Trading on the Nigerian Exchange Limited closed on a mixed note on Monday, with gains in selected consumer, telecommunications and energy stocks offsetting declines across several banking and insurance counters.
A total of 52,199 transactions were recorded during the session, involving 407.78 million shares.
International Breweries Plc emerged as the strongest gainer, rising 9.97 per cent from N16.55 to N18.20 per share. Zichis Agro Allied Industries Plc, a Growth Board-listed company, matched the brewer’s 9.97 per cent gain to also close at N18.20.
Aradel Holdings Plc followed with a 5.38 per cent increase, ending trading at N1,570 per share.
Other stocks that advanced included MTN Nigeria Communications Plc, which gained 2.45 per cent to close at N832.90, and Ellah Lakes Plc, which rose 2.22 per cent to N9.20.
NSL Tech, Sovereign Trust Insurance Plc, Cutix Plc, Japaul Gold & Ventures Plc, Mutual Benefits Assurance Plc, Veritas Kapital Assurance Plc and Nigerian Exchange Group Plc were also among the equities that recorded gains.
Investors reposition portfolios
Stockbroker Femi Adeyemi attributed the mixed performance to selective portfolio adjustments by investors responding to changing macroeconomic conditions.
He said investors were increasingly directing funds towards consumer goods and telecommunications companies with relatively strong fundamentals, while locking in profits on some banking stocks following their earlier gains.
“Investors are selectively taking positions in consumer goods and telecommunications equities with strong underlying fundamentals, while taking profits in banking counters that have rallied in previous sessions,” Adeyemi said.
The performance reflected a market in which investors continued to differentiate between sectors and individual stocks rather than adopting a broad-based buying or selling strategy.
Omatek, Caverton lead losers
On the losing side, Omatek Ventures Plc and Caverton Offshore Support Group Plc recorded the day’s sharpest declines, each falling 10 per cent.
Omatek closed at N1.53 per share, while Caverton finished at N4.05.
Critical Minerals Financing Corp Plc declined 9.85 per cent to N2.38, while Sunu Assurances Nigeria Plc dropped 9.42 per cent to N2.98. Daar Communications Plc also lost 9.41 per cent, closing at N1.54.
Other decliners included Fortis Global Insurance Plc, Champion Breweries Plc, Trans-Nationwide Express Plc, Coronation Insurance Plc, Regency Alliance Insurance Plc, Jaiz Bank Plc, Neimeth International Pharmaceuticals Plc, Austin Laz & Company Plc, Chemical and Allied Products Plc, VFD Group Plc, Africa Prudential Plc, Tantalizers Plc, Linkage Assurance Plc and FCMB Group Plc.
Several major names also closed lower, including Dangote Sugar Refinery Plc, Custodian Investment Plc, Oando Plc, United Bank for Africa Plc, Fidelity Bank Plc, Zenith Bank Plc, Access Holdings Plc, Guaranty Trust Holding Company Plc and Nigerian Breweries Plc.
ETF market records mixed performance
Trading in Exchange Traded Funds was also mixed, with 1,172 deals involving 409,338 units.
Vetiva S&P Nigeria Sovereign Bond ETF recorded the strongest gain, appreciating 4.19 per cent to N224, while NewGold ETF increased 2.90 per cent to N95,700.07.
Stanbic IBTC ETF 30 recorded the largest decline, falling 10 per cent to N1,408.50. Vetiva Consumer Goods ETF dropped 9.75 per cent to N46.12, while Greenwich Alpha ETF declined 6.99 per cent to N680.
Other ETFs that ended lower included Vetiva Industrial ETF, SIAML Pension ETF 40, Meristem Growth ETF, Meristem Value ETF, Lotus Halal Equity ETF, Vetiva Griffin 30 ETF and Vetiva Banking ETF.
Meanwhile, activity in the debt market remained subdued, with relatively limited trading recorded across government and corporate bond instruments.
The mixed session highlights continued caution among investors as they reassess sector valuations and reposition portfolios in response to prevailing economic conditions.
