Gains in petroleum stocks lift NGX capitalisation by N20 billion

The Nigerian Exchange Limited reopened in an upbeat mood yesterday, as market capitalisation advanced by N20 billion, following gains recorded by many blue-chip stocks, especially Conoil and MRS.The Nigerian Exchange Limited reopened in an upbeat mood yesterday, as market capitalisation advanced by N20 billion, following gains recorded by many blue-chip stocks, especially Conoil and MRS.

Vetiva Dealings and Brokerage analysts said: “Asides from the positive activity in the banking sector, the top four trades by volume were all Tier-I banks, as investors continue to favour counters in that space. We expect this trade pattern to filter into tomorrow’s trading session.” Champion Breweries appreciated by 6.22 per cent to close at N4.78 kobo. Vitafoam gained 6.09 per cent to close at N20.90 kobo. International Energy appreciated by 4.03 per cent to close at N1.29 kobo.

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