NSE
By Chinyere Joel-Nwokeoma
The Nigerian Stock Exchange (NSE) opened trading for the week on Monday, with a loss of 0.09 per cent, ending five days consecutive bullish trend.
Specifically, the All-Share Index lost 23.41 points or 0.09 per cent to close at 25,582.23 compared with 25,605.64 recorded on Friday.
Accordingly, the Month-to-Date gain moderated to 1.0 per cent while Year-to-Date loss increased to -4.7 per cent.
Also, the market capitalisation dropped N13 billion to close at N13.345 trillion from N13.358 trillion achieved on Friday.
The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Guaranty Trust Bank, Dangote Sugar, Red Star Express, United Bank for Africa and Zenith Bank.
Commenting on stock market expectation this week, analysts at United Capital Plc, predicted that the market would experience profit taking.
They said that resumption of foreign exchange sales at the Investor