Nigeria’s equities market failed to moderated its gains on Monday despite analysts expectations that investors will cautiously position ahead of the Monetary Policy Committee (MPC) decisions on Tuesday. The market defied activities of profit takers in early trading on the local Bourse to close higher by 0.18 percent.
“The equities market is expected to trade slightly positive, supported by investor interest in undervalued stocks and anticipated strong earnings releases.
“However, gains may be tempered by cautious positioning ahead of the MPC meeting and a scheduled T-bills auction, which could redirect liquidity from equities. Overall, the NGX-ASI is likely to post a modest uptick,” Futureview analysts said.
