By Benson Daniel
Trading on the Nigerian Exchange Limited ended on a mixed note on Monday as investors continued to reposition their portfolios, pushing selected brewing, telecommunications and energy stocks higher while banking and insurance counters came under selling pressure.
A total of 52,199 deals involving 407.78 million shares were recorded during the session as investors selectively took positions across different sectors of the equities market.
International Breweries Plc emerged as the best performing stock of the session, gaining 9.97 per cent to close at N18.20 per share, compared with its previous closing price of N16.55.
Zichis Agro Allied Industries Plc, a company on the NGX Growth Board, also appreciated by 9.97 per cent to close at N18.20 per share, matching International Breweries at the top of the gainers’ table.
Aradel Holdings Plc followed with a 5.38 per cent increase, closing at N1,570.00 per share, while MTN Nigeria Communications Plc advanced by 2.45 per cent to N832.90.
Ellah Lakes Plc also recorded a gain of 2.22 per cent, ending the session at N9.20 per share.
Other stocks that recorded price appreciation included NSL Tech, Sovereign Trust Insurance, Cutix, Japaul Gold and Ventures, Mutual Benefits Assurance, Veritas Kapital Assurance and Nigerian Exchange Group.
The mixed performance reflected a cautious approach by investors as market participants continued to adjust their portfolios in response to changing macroeconomic conditions.
Market activity showed that buying interest remained concentrated in selected stocks with investors seeking opportunities in sectors viewed as having stronger underlying fundamentals.
However, the positive movements in some consumer goods, telecommunications and energy stocks were not enough to offset declines recorded across several other counters.
Omatek Ventures Plc and Caverton Offshore Support Group Plc recorded the largest declines, each falling by 10 per cent to close at N1.53 and N4.05 per share respectively.
Critical Minerals Financing Corp Plc also declined by 9.85 per cent to N2.38 per share, while SUNU Assurances Nigeria Plc dropped by 9.42 per cent to close at N2.98.
Daar Communications Plc completed the major decliners, shedding 9.41 per cent to finish at N1.54 per share.
The session highlighted the continued rotation of funds across the market as investors balanced profit taking in stocks that had performed strongly in previous sessions with fresh positions in selected equities.
With market participants closely monitoring corporate earnings, interest rates, liquidity conditions and broader economic developments, analysts expect selective buying and profit taking to continue influencing daily trading patterns.
For investors, the divergent performance of individual stocks underscores the importance of company specific fundamentals as the equities market navigates the prevailing economic environment.
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