Trading at the Nigerian Stock Exchange (NSE) started on Monday with a marginal loss of N9 billion.
Specifically, the market capitalisation which opened the week at N20.591 trillion shed N9 billion or 0.04 per cent to close at N20.582 trillion.
Also, the All-Share Index dipped 16.94 points or 0.04 per cent to close at 39,505.40 from 39,522.34 on Friday.
Consequently, month-to-date and year-to-date return stood at 2.5 per cent and -1.9 per cent, respectively.
The market’s negative performance was driven by price depreciation in large and medium capitalised stocks amongst which are; CAP, Lafarge Africa, Zenith Bank, Fidelity Bank and Ecobank Transnational Incorporated.
Analysts at United Capital Plc said that, “This week, we expect the market to rally on the back of incoming earning releases of large-cap banking names.”
They added that sustained decline in fixed income yields could trigger favourable sentiment toward the equities market.
