The market capitalization of International Breweries Plc increased by about 8.33% as a result of the bullish sentiment that was present during the last three trading sessions on the NGX.
According to Nairametrics, the stock price of the food production firm rose to N4.55 per share at the close of trading yesterday, up from N4.20 when it opened trading on the 15th of December. The market capitalization has increased by 8.33%, or N9.402 billion.
Further research revealed that International Breweries ended the trading day with a market capitalization of N122.222 billion, up from N112.820 billion at the start of trading on December 15.
Christmas celebrations, increased travel across the nation, and an increase in top-line revenue at breweries all contribute to the season’s expected uptick in positive sentiment for the industry as a whole.
In case you missed it, the benchmark index closed 0.16% stronger to close at 49,396.04 points as the equity market began the trading week positive, extending the gains from the previous week.
Positive sentiments on Tier-1 banks, BUA Foods (+2.52%), GTCO (+3.35%), Access Holdings (+1.18%), and UBA (+0.68%) outweighed negative sentiments on Zenith Bank (-0.41%) and FBNH (-0.46%) to keep the market in the green.
As a result, the market capitalization increased by N43.44 billion to close at N26.90 trillion, and the year-to-date (YTD) return increased to 15.64%.
Further examination of the trading activities for the day revealed lower trade turnover compared to the prior session, with a 36.57% decrease in transaction value.
In a total of 3,174 transactions, 69.14 million shares worth N1.27 billion were exchanged. With 16.61 million units traded in transactions worth N352.21 million, GTCO led the volume and value charts with a gain in share price of 3.35 percent.