Nigerian Breweries posts N29.9 billion equity gain, as stock market appreciates by 0.2% 

Nigerian Breweries Plc (NB) was the best-performing stock in the NGX today, gaining 10%, marking a N29.9 billion equity gain. The stock closed at N31.90 from an opening price of N29.00.  

The performance of NB was instrumental in pushing the market to a 0.2% gain, marked by an All-Share Index gain of 201.74 points to reach 99,832.25 points.

The overall market capitalization of the NGX also appreciated by N22 billion to reach N56.474 trillion.  

Another significant highlight in the market was the bull run of Unity Bank, which posted a 9.91% gain to close at N1.22. In June 2024, Unity Bank shed 20.26% of its value, as it began the month at N1.53.  

The gain Unity Bank posted can be linked to restoring investors’ confidence, given the CBN’s commitment to not revoke banking licenses.   

Market Highlights  

There was increased market activity today, as the market resumed operations following a public holiday closure on June 12. The number of deals hit 9,686, marking a 20% increase from the 8,057 deals on June 11.  

In terms of turnover volume, there was a 40.8% decline from June 11 to 502.599 million shares. This is linked to the drastic reduction in the turnover volume of Fidelity Bank shares.  

There were 30 gainers in the market, in contrast with 18 losers, with the biggest stocks in the market recording no price changes.  

The top gainers in the market were led by Nigerian Breweries Plc and Unity Bank Plc. Third on the list is NEM Insurance which gained 9.77% to close at N9.55. Following NEM is Thomas Wyatt with a 9.43% to close at N1.74, while UAC Nigeria gained 8.65% to close at N14.45.  

Ecobank Transnational (ETI) was the top decliner, with a 9.92% loss to close at N21.35. This week, ETI has lost 10.48% as investors are taking profit on the stock, considering the group’s decision to not pay dividends for FY 2023.  

Following ETI is Daar Communications with an 8.77% loss to close at N0.52. C&I Leasing lost 7.44% to close at N2.60, while RT Briscoe lost 5.08% to close at N0.56, and Unilever lost 5.05% to close at N15.05.  

The top traded stocks in the market were led by Zenith Bank, which posted a 2.86% gain and a turnover volume of 71.221 million shares, followed by AIICO Insurance, with a turnover volume of 67.300 million shares.  

Access Holdings lost 1.55% with a turnover volume of 58.526 million shares, and GTCO Holdings gained 2.44% with a turnover volume of 46.858 million shares. UBA gained 6.24% and posted a turnover of 23.170 million shares.  

In terms of value, Zenith Bank posted a turnover value of N2.52 billion, followed by GTCO with a turnover value of N1.96 billion.

Access Holdings posted a turnover value of N1.13 billion, while UBA posted a turnover value of N520.57 million, and Oando Plc, with a 3.09% gain, posted a turnover value of N343.98 million. 

SWOOTs and FUGAZ Update  

GTCO and Zenith Bank were the only stocks worth over one trillion that posted price changes. GTCO gained 2.44% to close at N42.05 and Zenith Bank gained 2.86% to close at N36.00 

Other members of the category, Airtel Africa, BUA Cement, BUA Foods, Dangote Cement, Geregu Power, MTN Nigeria, Transcorp Power, and Seplat Energy posted no price changes. 

There were mixed trading sentiments for top-tier banking stocks, as FBN Holdings posted a 0.44% gain to close at N23.00, and UBA gained 6.24% to close at N23.00. However, Access Holdings posted a 1.55% loss to close at N19.00  



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