Stock Market Reverses Gains as Investors Book Profits

The stock market closed last week on negative note as the positive sentiments of the previous week could not be sustained.

However, the slowdown in momentum or correction, according to the analysts at InvestData Consulting, has created opportunities, for discerning investors to reposition in interim dividend paying stocks. The analysts added that they expect a mixed trend, on profit-taking and repositioning for half-year earnings reporting season kicking off any time soon after forming a wave that supports an uptrend as bargain hunters take advantage of pullbacks to reposition ahead of second quarter numbers.

Also commenting on the outlook for the market this week, analysts at Cordros Securities said with the moderation in the prices of bellwether stocks last week, they expected savvy investors to take advantage of this and make re-entry ahead of their H1-21 earnings announcement.

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