Analysts in the country’s financial market are expecting equities to start the week on a positive note given the events of the immediate past week.

The Nigerian bourse had closed on a positive stance following buy pressures which dominated counters that had previously shed value.

“Given the slightly positive market breadth and strong closes across a few key sectors, we anticipate a positive trading session at week open,” the analysts at Vetiva Capital Management Limited said in weekend post.

Partly aligning with this position, analysts at Meristem Securities Limited said, “In the week open, we envisage a flurry of both buy and sell sentiments given that the Morgan Stanley Capital International semi-annual index review changes will be announced.

“Also, we expect sell pressures particularly on counters that have witnessed share price appreciations in recent weeks. Overall, we expect the bulls to outwit the bears thus leading to a positive close.”

The Meristem analysts attributed the upbeat performance in the agric sector last week to investors’ reactions to the generally positive market mood, while expecting further price gains this week to be followed by sell-downs subsequently.

For the banking sector, they said the gains recorded on some sector heavy weights (FBN Holdings Plc and Guaranty Trust Bank Plc) and the large gains recorded on Diamond Bank Plc drove the sector to a positive close; for consumer goods, the week-on-week decline on some bellwether stocks like Nigerian Breweries Plc, Dangote Sugar Refinery Plc and Flour Mills Nigeria Plc dragged the sector’s performance in the week.

For the healthcare sector, they said, “The advancement recorded by the sector can be attributed to positive sentiments on May & Baker Nigeria Plc. This week, while we expect share price appreciation on Fidson Healthcare Plc, trickles of sell offs on some counters that previously recorded significant gains may drag the sector to the red at the close of the week.