In their weekly money and capital report on Monday, analysts at FSDH Securities Limited noted that some investors would likely take advantage of the price appreciation of shares in the market to make some gains.

They added that it was possible that the prices of some shares would drop as a result of profit taking, adding that this was usual at this period of the year.

They said, “Based on historical trend between May and June, we expect the equities market to trade southward this month.

“In addition, the current share prices of select stocks at the bourse would continue to offer opportunities for profit taking in the course of the week, which will cause prices to drop.

“We, therefore, urge investors to consider stocks with solid fundamentals, as they prove capable of generating good returns in the medium to long-term.”

Punch: Analysts predict profit-taking this month – Analysts