Guinness Nigeria Plc recorded one of the strongest price gains on the Nigerian Exchange Limited (NGX) on Monday as its share price jumped 9.93 percent to N423.
The stock opened the session from a previous closing price of N384.80 and gained N38.20 per share, placing it just below the exchange’s 10 percent daily price movement threshold.
The rally made Guinness Nigeria one of the leading equity gainers during a session in which the broader market extended its decline.
At N423 per share, the brewer’s one-day appreciation translated to an increase of almost N10 for every N100 invested in the stock based on the previous closing price.
Guinness ranked behind Neimeth International Pharmaceuticals and UPDC Real Estate Investment Trust, both of which appreciated 10 percent during the session.
Neimeth advanced from N7 to N7.70, while UPDC REIT increased from N24 to N26.40.
Livestock Feeds also continued its recent rally, gaining 9.89 percent from N13.15 to N14.45.
Guinness’ N38.20 increase was, however, the largest absolute naira gain among the ordinary equities on the supplied gainers’ table.
The strong performance came against a weaker overall market.
The NGX All-Share Index declined 0.25 percent from 248,363.55 points to 247,736.24 points, extending the losses recorded during the previous trading week.
Equity market capitalisation closed at N160.853 trillion, while investors exchanged 405.39 million shares worth N19.87 billion across 52,977 deals.
The divergence between Guinness Nigeria’s 9.93 percent advance and the broader market decline highlights the selective buying that has continued across individual equities even as the benchmark index remains under pressure.
For Guinness Nigeria, Monday’s move lifted the stock to N423 per share after adding N38.20 in a single trading session, placing it among the strongest performers at the start of the new trading week.
