Guinness Nigeria Plc’s share price fell by 10% to ₦88.20 per share at the end of yesterday’s trading session, bringing the company’s market capitalisation to ₦193.19 billion.
The FMCGs company’s share price loss can be ascribed to investors’ unfavourable attitude, which caused sell-offs, lowering the company’s worth by 1000 basis points.
As a result of the sell-pressures in the company’s shares, the market capitalization fell by ₦21.47 billion at the close of trading on Nigeria’s stock exchange.
The mentioned brewery’s shares fell from ₦98.00 per share at the start of the trading day to ₦88.20 per share, the lowest price traded at the market’s close, representing a 10% drop in monetary terms.
Profit-taking in Guinness Nigeria Plc shares reduced the company’s market capitalization from ₦214.66 billion to ₦193.19 billion at the end of the day’s trading activities, resulting in a loss of ₦21.47 billion.
The company’s shares have increased by 126.15 per cent year to date, beginning the year at ₦39.00 and currently trading at ₦88.20. The stock is currently trading 19.82 per cent lower than its 52-week high of ₦110.00. However, investors who purchased the company’s shares at their 52-week low trading price of ₦29.00 per share have gained almost 204.14 per cent.
During the day’s trading, 385,413 ordinary shares of Guinness Nigeria Plc valued at approximately ₦34.37 million were exchanged in 48 transactions.
In comparison, International Breweries Plc and Champion Breweries Plc had their shares fall by 2.44 per cent and 2.56 per cent, respectively, to settle at N8.00 and N3.80. While Nigerian Breweries Plc closed unchanged at ₦77.00.
The NGX All-Share Index and market capitalization fell 1.82 per cent from the previous trading day to settle at 51,949.64 index points and ₦28.01 trillion, respectively, at the end of the day’s trading.