Investors drive Guinness shares as price breaks new 52-week high

At the end of Thursday’s trading session, Guinness Plc share price appreciated by 10.00% to close at N55.00 per share, taking the market capitalization from N109.52 billion to N120.47 billion.

Guinness Plc recorded a gain in share prices which can be attributed to investors’ positive sentiment which triggered buy-interests in the shares of the company supporting a gain of N10.95 billion in market capitalisation at the close of trading activities on Nigeria’s stock exchange.

The shares of the quoted brewer company appreciated from N50.00 per share at the start of the trading day to N55.00 per share, the highest price traded at the close of the market, to represent a gain of 10.00% which in monetary terms is N5.00.

It is worthy of note that the recent rally in the company’s shares can be attributed to the stellar financial performance of the company in 2021, taking the share price to the highest in almost three years.

Stock performance

The rally witnessed in the shares of Guinness positively influenced the company’s market capitalization from N109.52 billion to N120.47 billion at the end of today’s trading activities, taking the gains to N10.95 billion.

The shares of Guinness Plc have gained 41.03% from year-to-date, starting the year at N39.00 and currently traded at N55.00. The company’s shares are currently at its 52-week high of N55.00 per share. However, the shares of the company have returned about 189.47% gains for investors who bought them at their 52-week low trading price of N19.00 per share.

During today’s trading hours, 2,332,880 ordinary shares of Guinness Plc worth about N125.76 million, were exchanged in 152 executed deals.

In comparison, the shares of Nigerian Breweries Plc closed flat at N48.00 at the end of today’s trading session. International and Champion Breweries Plc grew by 2.83% and 0.90%, respectively.