A TIME TO BEWARE, AMIDST PROFIT TAKING, MONTH-END WINDOW DRESSING
MARKET UPDATE FOR THE WEEK ENDED MAY 26 AND OUTLOOK FOR MAY 30 - JUNE 2, 2017 The nation’s equity market for the week under review retraced up on strong positive sentiments that followed the array of data and regulatory decision that investors interpreted as capable of support ongoing economic recovery, in addition the observed improved in market fundamentals that have helped to attract foreign and local investors back. These investors are taking position in the market despite profit booking among some that were trap before now and are just attaining their breaking even point. The significant rise in the prices of stocks above their 52-week high shows increased confidence in the market, as a result of which liquidity is looking up, regardless of the delay in the signing of the 2017 Appropriation Bill into law by Acting President Yemi Osinbajo. It is however not in doubt that the budget when signed into law would trigger the disbursement of funds to fasten this recove...