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MRS, Vitafoam, others lead stock market’s N94 billion gain | The Guardian Nigeria News - Nigeria and World News

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Price gains by most blue-chip stocks, especially MRS and Vitafoam, aided a rebound on the Nigerian Exchange Limited (NGX) as market reopened in an upbeat yesterday, causing market capitalisation to rise by N94 billion.

At the close of trading yesterday, market capitalisation increased by N94 billion from N19.940 trillion recorded last week Friday to N20.034 trillion. Also, the All-Share Index appreciated by 180.93 points or 0.4 per cent from 38,256.95 to 38,437.88.

“In addition, the ASI is technically oversold and is due for a temporary rebound. We also expect investor sell-offs and profit-taking in insurance stocks which rallied in the previous week.” MRS emerged the day’s highest price gainer with 17.10 per cent to close at N12.60 kobo while Vitafoam followed with 8.91 per cent to close at N11.00 kobo. Chams appreciated by 5.00 per cent to close at N0.21 kobo, PZ Cussons added 3.77 per cent to close at N5.50 kobo. AIICO gained 3.45 per cent to close at N1.20 kobo. Custodian&Allied Insurance appreciated by 3.42 per cent to close at N6.05 kobo.However, ROYALEX topped the losers chart with 9.88 per cent to close at N0.73 kobo.

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