Analysts Anticipate Cautious Trading In Stock Market

📆 2023/10/03 1:33:00
📰 LeadershipNGA

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Capital market analysts anticipated cautious trading in the local stock market this week due to the absence of significant positive catalysts to boost

The bearish mood on the Nigerian stocks persisted as selloffs and profit booking continued to defy the quarter-end window dressing on a declining traded volume, reflecting the mixed sentiment, as well as the wait-and-see attitude of investors ahead of the third quarter earnings reporting season.

Notably, the All-Share index dipped by 1.40 per cent week-on-week to close at 66,382.14 points. Similarly, market capitalisation shed N516 billion W-o-W to close at N36.331 trillion. On the other side, Oando led the decliners table by 33.76 per cent to close at N7.85, per share. FTN Cocoa Processors followed with a loss of 19.68 per cent to close at N1.51, while SUNU Assurances declined by 14.29 per cent to close at 90 kobo, per share.

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