Nigerian Breweries Plc (NB) emerged as the standout performer on the Nigerian Exchange (NGX) today, registering a significant 10% gain in its stock price. The company’s share price increased from N29.00 to N31.90, resulting in an equity gain of N29.9 billion. This impressive performance contributed significantly to the overall market’s positive movement.
The NGX experienced a 0.2% uptick, with the All-Share Index rising by 201.74 points to reach 99,832.25 points. The market capitalization also saw an increase, appreciating by N22 billion to settle at N56.474 trillion.
Market Movers
Unity Bank also posted notable gains, climbing 9.91% to close at N1.22. Despite a challenging month, where Unity Bank’s value had dropped by 20.26%, investor confidence was restored following assurances from the Central Bank of Nigeria (CBN) regarding the stability of banking licenses.
The day witnessed increased market activity, partly due to the resumption of trading after a public holiday on June 12. The number of deals rose by 20%, from 8,057 to 9,686. However, turnover volume fell by 40.8% to 502.599 million shares, primarily due to a decrease in the turnover of Fidelity Bank shares.
Top Performers and Decliners
The session saw 30 stocks gaining and 18 losing value. Nigerian Breweries Plc and Unity Bank Plc led the gainers, followed by NEM Insurance, which rose by 9.77% to close at N9.55, and Thomas Wyatt, which increased by 9.43% to end at N1.74. UAC Nigeria also performed well, gaining 8.65% to close at N14.45.
Ecobank Transnational (ETI) was the biggest loser, dropping 9.92% to close at N21.35. This decline is part of a broader trend for ETI, which has seen a 10.48% decrease this week as investors cashed in on profits following the group’s decision not to pay dividends for FY 2023. Other notable decliners included Daar Communications, C&I Leasing, RT Briscoe, and Unilever.
Trading Volume and Value Leaders
Zenith Bank led the market in terms of turnover volume, with 71.221 million shares traded and a gain of 2.86%. AIICO Insurance followed, with a turnover volume of 67.300 million shares. Other active stocks included Access Holdings, GTCO Holdings, and UBA.
In terms of value, Zenith Bank again led with a turnover value of N2.52 billion, followed by GTCO at N1.96 billion. Access Holdings and UBA also posted substantial turnover values of N1.13 billion and N520.57 million, respectively. Oando Plc saw a 3.09% gain, contributing to a turnover value of N343.98 million.
SWOOTs and FUGAZ Update
Among the SWOOTs (Stocks Worth Over One Trillion), GTCO and Zenith Bank were the only stocks to record price changes, with GTCO gaining 2.44% to close at N42.05 and Zenith Bank rising by 2.86% to close at N36.00. Other members of this category, including Airtel Africa, BUA Cement, BUA Foods, Dangote Cement, Geregu Power, MTN Nigeria, Transcorp Power, and Seplat Energy, saw no price changes.
In the top-tier banking sector, there were mixed results. FBN Holdings gained 0.44% to close at N23.00, and UBA increased by 6.24% to also close at N23.00. In contrast, Access Holdings posted a loss of 1.55%, closing at N19.00.
Overall, the NGX showed resilience and positive movement, buoyed by strong performances from key players like Nigerian Breweries and Unity Bank, despite some losses in other sectors.
