By Taiye Olayemi
The Nigerian Exchange Ltd. (NGX) began the week on a bullish note, with investors gaining N1.91 trillion as the market extended its winning streak to four consecutive sessions.
The market capitalisation rose by 1.20 per cent to N160.421 trillion, while the All-Share Index (ASI) advanced by 2,956.15 points, also representing a 1.20 per cent increase, to close at 248,529.75 from 245,573.60 recorded on Friday.
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The market’s year-to-date return consequently improved to 59.71 per cent.
The positive performance was driven largely by buying interest in some high-capitalisation stocks, including Fortis Global Insurance, Chams, Nigerian Aviation Handling Company (NAHCO), Airtel Africa and Sovereign Trust Insurance, among others.
Despite the overall market gain, trading breadth was negative, with 37 stocks recording price losses against 23 gainers.
AVA Capital led the losers’ chart, declining by 10 per cent to close at N9.90 per share. Ecobank Transnational Incorporated followed with a
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