By Peter Egwuatu
Following the marginal gain of N5 billion recorded last week in the equities market, analysts have projected the prevalence of profit taking this week amid mixed sentiments by investors.
Consequently, analysts urged investors to trade cautiously and seek for equities that have sound fundamentals as they wait for companies to release their 2019 full year results.
They also noted that the decision on Friday by the Monetary Policy Committee, MPC, of the Central Bank of Nigeria, CBN, to retain the Monetary Policy Rate (MPR) at the same level may further stimulate the market and boost further rally this week.
Reacting, analysts at Cordros Securities Limited said: “Looking ahead, while we expect profit-taking to continue in the coming week, we still see significant legroom for a further rally as the elevated maturities from fixed income instruments hunt for investment vehicles. Nonetheless, we advise investors to cherry-pick…
Source: Vanguard Newspaper
