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Nigerian Breweries Plc emerged as one of the strongest performers on the Nigerian Exchange on Friday, September 4, 2026, climbing 9.93% and helping lift the equities market by N405.67 billion despite a broader decline in the number of advancing stocks.
The brewer’s share price rose from N75 to N82.45, adding N7.45 per share and placing Nigerian Breweries among the session’s leading gainers. Market data confirms the 9.93% increase, alongside gains of 10% for Abbey Mortgage Bank and Royal Exchange.
The advance came as investors continued to reposition across selected stocks, even as selling pressure remained evident in several parts of the market.
NGX Market Capitalisation Rises to N159.55trn
The renewed buying interest pushed the overall market capitalisation to approximately N159.55 trillion, representing a gain of N405.67 billion from the previous session.
The NGX All-Share Index (ASI) also advanced, rising by about 604 points to close around 246,992 points. Another market report put the index at 246,992.44 points, compared with 246,388.22 points on Thursday.
Despite the positive headline performance, the market did not enjoy broad participation on the upside.
More stocks recorded losses than gains during the session, highlighting the narrow nature of the rally and suggesting that selected counters, rather than a broad-based recovery, were responsible for the market’s advance.
Brewer’s Stock Rebounds Sharply
Nigerian Breweries’ performance stood out among the day’s major price movements.
The stock opened at N75 and closed at N82.45, recording its strongest daily gain in the session and returning to the spotlight after relatively subdued movements earlier in the week.
The rally comes against the backdrop of an improving financial performance by the brewer.
For the first half of 2026, Nigerian Breweries reported N803.68 billion in revenue, representing a 9% increase from N738.14 billion recorded in the corresponding period of 2025.
Profit before tax rose 18% to N156.33 billion, while profit after tax increased 5% to N92.95 billion.
The company’s improved results were supported by a sharp reduction in net finance costs, while the brewer also ended the half year with zero loans and borrowings and cash and cash equivalents of N74.63 billion.
These developments have strengthened the company’s financial position following the balance-sheet pressures experienced during the previous period.
Abbey Bank, Royal Exchange Join Top Gainers
Nigerian Breweries was not alone among the session’s major advancers.
Abbey Mortgage Bank led the gainers after rising 10% from N7 to N7.70, while Royal Exchange also advanced 10% to N1.10.
Nigerian Breweries followed with its 9.93% gain, while John Holt added 9.89% and DAAR Communications gained 9.68%.
Other notable gainers included Ellah Lakes, which rose 9.09%, and Champion Breweries, which advanced 8.64%.
On the losing side, FGSUK2027S3 recorded the steepest decline, followed by Red Star Express, H.M. Call and IMG, according to market data for the session.
Trading Activity Jumps
The session also recorded a significant increase in trading activity.
About 2.24 billion shares changed hands in more than 42,000 deals, with total transaction value exceeding N73 billion, according to market reports.
This represented a substantial increase from Thursday, when approximately 434 million shares worth N29.29 billion were traded in 42,303 deals.
Among the most actively traded equities were UBA, Zenith Bank, Consolidated Hallmark, Access Holdings and Fortis Global Insurance.
The heightened activity indicates stronger investor participation even though the market’s breadth remained weak.
Market Rally Remains Narrow
Friday’s performance illustrates the increasingly selective nature of trading on the NGX.
While the benchmark index and market capitalisation moved higher, the negative breadth indicates that the gains were concentrated in a relatively small group of stocks.
This divergence is important because a rising index does not necessarily mean that sentiment has improved across the wider market. Investors may continue to rotate into companies with stronger earnings prospects, attractive valuations or specific corporate catalysts while reducing exposure to weaker counters.
For Nigerian Breweries, the combination of a sharp share-price gain and improving financial fundamentals provides a notable example of how company-specific developments can drive investor interest even when broader market participation remains uneven.
Investors Watch Earnings and Market Reclassification
The Nigerian market is also entering a period of heightened investor attention following the confirmation of Nigeria’s return to FTSE Russell’s Frontier Market Index, with Nigerian stocks scheduled for inclusion later in September.
The development is expected to increase international visibility for selected Nigerian equities and could influence portfolio flows into qualifying companies.
Against this backdrop, Friday’s N405.67 billion increase in market value provides another indication of renewed activity on the NGX.
However, the negative breadth means the market’s next challenge will be turning gains concentrated in a handful of counters into a broader recovery.
For Nigerian Breweries, the immediate focus will be whether the latest rally can be sustained as investors continue to assess the brewer’s earnings recovery, balance-sheet improvement and prospects in Nigeria’s challenging consumer market.
