Capital market experts have projected a passive trading session today, Friday, July 8, as trading resumes on the floor of the Nigerian Stock Exchange, NSE, today, with many investors and market players still basking in the festivity mood.
According to analysts, the trading week, which ends today, was believed to have been crippled by the unprecedented three-day extended holiday declared by the federal government for Sallah celebration across the country.
The two days trading session occurred on Monday and Friday (today) leaving the trading floor vacated by investors on Tuesday, Wednesday and, unexpectedly, Thursday. The NSE, Monday, announced Thursday for resumption of activities on the bourse.
The head of research at GTI Security Limited, Chuks Anyanwu, who spoke with Daily Trust, said that low sentiment was expected to drive the market today, adding: “Activities can only commence fully on Monday, next week, with renewed sentiment. But, basically, this week cannot see much happenings again.”
While today’s trading outcome hangs in the balance, the week’s opening session on Monday closed on a negative note, leaving both market capitalisation and NSE All-Share Index (ASI) depreciating by 1.03 per cent.
