By TAIYE OLAYEMI

The stock market opened the week on a positive note on Monday, recording a N160 billion gain for investors as it extended its positive run to three consecutive sessions.

The gains were driven by strong demand for Royal Exchange, NGX Group, RT Briscoe, Secure Electronic Technology, Prestige Assurance and 16 other stocks.

Specifically, the market capitalisation, which opened at N157.587 trillion, added N160 billion to close at N157.747 trillion.

Similarly, the All-Share Index soared by 0.10 per cent or 246.50 points, settling at 243,299.24 compared with 243,052.74 recorded Friday, Sept.11.

Consequently, the market’s Year-to-Date return improved to 56.35 per cent.

In spite of the uptrend, the market breadth closed negatively with 28 losers and 21 gainers.

John Holt led the losers’ chart by 10 per cent, ending the session at N8.10, Ellah Lakes and Daar Communications followed by 9.80 per cent each, settling at N9.20 and N1.38 per share respectively.

Also, Regency Alliance Insurance fell by 8.97 per cent, closing at 71k and Learn Africa dipped by 8.67 per cent, finishing at N7.90 per share.

Conversely, NGX Group and Royal Exchange led the gainers’ chart by 10 per cent each, closing at N162.80 and 99k per share respectively.

Similarly, RT Briscoe gained by 9.88 per cent, settling at N8.90, Secure Electronic Technology climbed by 7.69 per cent, finishing at 70k while Prestige Assurance increased by 7.19 per cent, ending the session at N1.49 per share.

A critical analysis of the market activity showed decline in the market value and volume with an increase in the deals.

A total of 428.97 million shares worth N20.52 billion were traded across 54,592 transactions, compared to Friday’s 582.89 million shares valued at N25.79 billion that was exchanged in 45,678 deals.

Sterling Nigeria led trading volume with 78.05 million shares, accounting for 18.20 per cent of the day’s total volume.

Aradel Holdings recorded the highest transaction value at N2.48 billion. (NAN)