International Breweries, Zichis Agro top gainers in mixed trading
Trading on the Nigerian Exchange Limited ended on a mixed note for the equities market on Monday, as buying interest in select brewing, telecom, and energy stocks countered selling pressure in banking and insurance counters. Total equity transactions recorded 52,199 deals with an aggregate volume of 407.78m shares traded.
Activity in the equities segment was led by International Breweries Plc, which recorded the highest percentage price appreciation, surging by 9.97 per cent to close at N18.20 per share from its previous closing price of N16.55 per share. Growth board participant, Zichis Agro Allied Industries Plc, gained 9.97 per cent to close at N18.20 per share. Aradel Holdings Plc advanced by 5.38 per cent to finish at N1,570.00 per share.
Other prominent gainers included Ellah Lakes Plc, which rose 2.22 per cent to close at N9.20 per share, while MTN Nigeria Communications Plc gained 2.45 per cent to end the day at N832.90 per share. Additional price appreciations were registered by 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.
Commenting on the market performance, a stockbroker, Femi Adeyemi, noted that the mixed trend reflected strategic portfolio rebalancing by investors amidst macroeconomic adjustments.
“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 stated.
On the decliners’ chart, Omatek Ventures Plc and Caverton Offshore Support Group Plc recorded the steepest losses, each dropping 10.00 per cent to close at N1.53 and N4.05 per share, respectively. Critical Minerals Financing Corp Plc dropped 9.85 per cent to close at N2.38 per share, Sunu Assurances Nigeria Plc declined by 9.42 per cent to finish at N2.98 per share, and Daar Communications Plc shed 9.41 per cent to close at N1.54 per share.
Other equities that closed lower 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. Major banking and consumer stocks such as 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 also registered price depreciations.
In the Exchange Traded Funds market, total trading activity recorded 1,172 deals across 409,338 units. Price appreciations were registered by Vetiva S&P Nigeria Sovereign Bond ETF, which climbed 4.19 per cent to close at N224.00, and NewGold ETF, which gained 2.90 per cent to finish at N95,700.07.
Conversely, Stanbic IBTC ETF 30 led the ETF decliners, falling 10.00 per cent to N1,408.50, followed by Vetiva Consumer Goods ETF, which dropped 9.75 per cent to N46.12, and Greenwich Alpha ETF, which fell 6.99 per cent to N680.00. Other ETFs that recorded losses included Vetiva Industrial ETF, The SIAML Pension ETF 40, Meristem Growth ETF, Meristem Value ETF, Lotus Halal Equity ETF, Vetiva Griffin 30 ETF, and Vetiva Banking ETF. In the debt market, trading remained quiet across most government and corporate bond issues.
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