International Breweries share price appreciates by 8.33% in three days

The positive sentiment witnessed on the shares of International Breweries Plc during the last three trading sessions on the NGX resulted in the market capitalization gaining about 8.33 per cent.

It showed that the food production firm’s stock price rose to N4.55 per share at the close of trading yesterday from N4.20 with which it opened trading on the 15th of December. This represents an 8.33 per cent growth or N9.402 billion increase in market capitalisation.

Further analysis showed that International Breweries closed the trading day with N122.222 billion in market capitalization as against N112.820 billion at the beginning of trading on 15th December.

With Christmas festivities in the air, more travelling across the country and brewery firms seeing an uptick in their top-line revenue, positive sentiment on the sub-sector is expected to be sustained during the season.

The equities market opened the trading week positive, extending the gains from last week as the benchmark index closed 0.16 per cent stronger to close at 49,396.04 points.

Positive sentiments on Buafoods which led to a gain of +2.52 per cent, alongside Tier-1 banks, GTCO which recorded a gain of+3.35 , Access Holdings (+1.18 per cent) and UBA with a gain of +0.68 per cent overshadowed losses in Zenith Bank with -0.41 per cent and FBNH to sustain the market in the green territory.

Consequently, the year-to-date (YTD) return rose to 15.64 per cent, while market capitalization gained N43.44 billion to close at N26.90 trillion.

Further analysis of the day’s trading activities showed trade turnover finished lower relative to the previous session, with the value of transactions down by 36.57 per cent.

A total of 69.14 million shares valued at N1.27 billion were exchanged in 3,174 deals. GTCO’s gain of 3.35 per cent in share price led the volume and value charts with 16.61 million units traded in deals worth N352.21 million.