The Nigerian equities market resumed trading for the week on Monday still on a negative trend with the market indices nosediving by 1.05 per cent.
Specifically, the All-Share Index lost 294.90 points or 1.05 per cent to close at 27,772.19 compared with 28,067.09 achieved on Friday.
Also, the market capitalisation dipped N154 billion or 1.05 per cent to close at N14.464 trillion in contrast with N14.618 trillion posted on Friday.
Consequently, the month-to-date declined to 3.71 per cent, while Year-to-Date moderated to 3.47 per cent.
The downtrend was impacted by losses recorded in large and medium capitalised stocks, amongst which are; Nestle Nigeria, MTN Nigeria, Lafarge Africa, Guaranty Trust Bank and FBN Holdings.
Analysts at Afrinvest Limited stated that “We believe earnings…