Company News
Champion Breweries, VFD Group Defy Broad Market Selloff
Champion Breweries Plc and VFD Group Plc bucked the broader market trend on Wednesday as both stocks recorded strong gains despite widespread selling that extended the Nigerian Exchange’s (NGX) decline for a second consecutive trading session.
Champion Breweries emerged as the day’s best-performing stock after its share price advanced 9.90 percent from N10.10 to N11.10, while VFD Group followed closely with a 9.52 percent gain, rising from N10.50 to N11.50.
The two equities stood out in an otherwise weak market where profit-taking dominated trading and pushed the benchmark index lower.
Top Gainers
| Company | Previous Close | Current Price | Change |
|---|---|---|---|
| Champion Breweries Plc | N10.10 | N11.10 | +9.90% |
| VFD Group Plc | N10.50 | N11.50 | +9.52% |
| UPDC Plc | N3.40 | N3.60 | +5.88% |
| Ikeja Hotel Plc | N42.55 | N44.50 | +4.58% |
| Cutix Plc | N2.29 | N2.36 | +3.06% |
While these stocks attracted buying interest, their gains were insufficient to offset the broader market weakness.
Five equities—Omatek Ventures Plc, Zichis Plc, Japaul Gold & Ventures Plc, FTN Cocoa Processors Plc and McNichols Plc—all declined by the Exchange’s maximum daily limit of 10.00 percent, highlighting the widespread nature of the selloff.
The broader market also remained under pressure.
The NGX All-Share Index (ASI) declined 1.05 percent from 244,802.11 to 242,223.10 points, while equity market capitalisation fell by approximately N1.67 trillion from N158.722 trillion to N157.050 trillion.
Trading activity moderated compared with the previous session, with investors exchanging 534.45 million shares worth N22.28 billion in 46,943 deals, down from 753.17 million shares, N27.82 billion and 54,051 deals recorded on Tuesday.
The contrasting performance underscores the selective nature of Wednesday’s trading. While profit-taking continued to weigh on the broader market, investors identified opportunities in a handful of stocks, allowing Champion Breweries and VFD Group to deliver standout performances against a backdrop of widespread selling.