Yuletide: International Breweries share price appreciates by 8.33% in three days

The market valuation of International Breweries Plc rose by approximately 8.33% due to the optimistic sentiment that prevailed during the last three trading sessions on the NGX.

As reported by Nairametrics, the stock price of the food manufacturing company increased to N4.55 per share at the conclusion of trading yesterday, up from N4.20 at the commencement of trading on December 15. The market valuation has grown by 8.33%, equating to N9.402 billion.

Additional findings indicated that International Breweries concluded the trading day with a market valuation of N122.222 billion, an increase from N112.820 billion at the beginning of trading on December 15.

The Christmas festivities, heightened travel throughout the country, and a boost in top-line revenue at breweries all contribute to the anticipated rise in positive sentiment for the sector as a whole during the season.

If you haven’t seen it, the benchmark index concluded 0.16% higher, finishing at 49,396.04 points, as the equity market started the trading week on a positive note, building on gains from the previous week.

Positive sentiments surrounding Tier-1 banks, BUA Foods (+2.52%), GTCO (+3.35%), Access Holdings (+1.18%), and UBA (+0.68%) outweighed the negative sentiments regarding Zenith Bank (-0.41%) and FBNH (-0.46%), keeping the market in the green.

This led to the market valuation rising by N43.44 billion to close at N26.90 trillion, with the year-to-date (YTD) return increasing to 15.64%.

Further analysis of the trading activities for the day indicated lower trade turnover compared to the previous session, with a 36.57% decline in transaction value.

Across a total of 3,174 transactions, 69.14 million shares valued at N1.27 billion were traded. With 16.61 million units exchanged in trades worth N352.21 million, GTCO topped the volume and value charts with a share price increase of 3.35 percent.