International Breweries and Zichis Agro Lead Market Gains

On Monday, trading on the Nigerian Exchange Limited ended on a mixed note, driven by buying interest in select brewing, telecom, and energy stocks, which countered selling pressure in banking and insurance sectors. Total equity transactions reached 52,199 deals, with an aggregate volume of 407.78 million shares traded.

International Breweries Plc led the market with a 9.97% price increase, closing at N18.20 per share, up from N16.55. Zichis Agro Allied Industries Plc also gained 9.97%, closing at N18.20.

Other notable gainers included Aradel Holdings Plc, which rose by 5.38% to N1,570.00, and MTN Nigeria Communications Plc, which increased by 2.45% to N832.90. Femi Adeyemi, a stockbroker, commented that the mixed trend reflected strategic portfolio rebalancing by investors amid macroeconomic adjustments.

On the decliners' side, Omatek Ventures Plc and Caverton Offshore Support Group Plc both fell by 10.00%, closing at N1.53 and N4.05, respectively. The market also saw declines in several major banking and consumer stocks.