Financial markets across Nigeria are closed for the country’s 56th independence holiday.
Markets had closed on Friday to reopen tomorrow, Tuesday October 4.
Before the holiday, the financial markets had closed largely bearish but marginal gains were recorded in the equity market.
The last trading in September ended marginally positive as the all share index and market capitalisation rose further by more than a quarter of a percent, on the back of price advance by some mid-cap stocks.
However, market breadth was negative with 16 gainers against 22 losers on the price table.
The top three gainers for the day were Pharmadeko, NAHCO and Honeywell Flour Mills while Caverton, Nothern Nigeria Flour Mills and Conoil were the three most significant decliners.
Friday’s transaction was lower than the previous session, as it recorded a total turnover of 217.8 million shares worth 2.38 billion naira in 2,804 deals.
The most traded stocks were banking giants, Ecobank Transnational Incorporated, FCMB and Zenith Bank.
Research analysts believe that markets direction will be shaped by the third quarter numbers this week as yields in the local bonds market tend to inch higher.
Meanwhile, the Central Bank plans to auction 135.7-billion-naira worth of treasury bills on Wednesday with a view to curb speculations against the naira at the foreign exchange market as well as inflation.