The All-Share Index dipped 16.94 points or 0.04 per cent to close at 39,505.40 from 39,522.34 on Friday.
Overall, the market was positive with 29 stocks gainers relative to 16 losers.
Market capitalisation shed N71 billion buoyed by profit-taking sentiments by investors in all the major sectors except oil and gas stocks.
Market sentiment was positive with 25 gainers compared with six laggards.
“We expect negative sentiments to dominate the equities market as knee-jerk reactions to the federal government’s decision.”
“We expect the overall theme of the market to tilt towards the bears, considering the anticipated NTB auction scheduled to hold later in the week.”
The market gain was driven by price appreciation in large and medium capitalised stocks, including Conoil, Lafarge Africa, Guaranty Trust Bank, Eterna, and Union Bank of Nigeria.
A breakdown of the price movement chart indicates that 26 stocks recorded price appreciation in contrast to 15 laggards.
Analysts attributed the persistent lull to increasing rates in the fixed income market.
