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Experts predict significant growth for capital market in 2nd quarter of 2015

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Some capital market experts on Wednesday predicted
that the Nigerian Stock Exchange (NSE) would record
significant improvement in the second quarter of 2015.
They told NAN in Lagos that the improvement was
expected because the electioneering activities would
have been over by the first quarter.
Mr Chineyem Anyanwu, a Managing Partner of
Dependable Securities Ltd., Lagos, said that the
uncertainties surrounding the 2015 general elections
had slowed down the equity market.
Anyanwu said that activities of politicians ahead of the
forthcoming elections also affected the entire capital
market growth and development.
According to him, all the predicaments and challenges
that may come with the 2015 general elections will be
felt within the 1st quarter.
“I believe that the stock market will gain much and the
economy generally will improve as soon as the election
is over,” he said.
NAN reports that the NSE market capitalisation as at
Dec. 30, 2014, closed at N11.49 trillion from the
N13.20 trillion in the corresponding period of 2013.
The decrease of N1.71 trillion represented 12.95 per
cent decrease already.
Also speaking, Mr Emmanuel Eze, Managing Director,
Perfecter Investment Trust Ltd., Lagos, said that the
stock market performed lower than what was expected
in 2014.
Eze said that the market actually lost what it gained in
2013.
According to him, the poor performance of the 2014
financial year is as a result of the outbreak of Ebola
disease and the devaluation of the Naira.
“There was also the fall in crude oil prices and security
challenges, among others, facing the economy,” he
said.
Mr Gbenga Obisesan, Managing Director, Topmost
Securities Ltd., Lagos, said there was need for strong
Nigerian investors’ participation in the Nigerian stock
market to enhance stability and development of the
economy.
Obisesan said that the market and the economy would
be stable through strong participation of domestic
investors.
“Our economy like most global market is sensitive to
global development, but if we have a strong
participation by domestic investors in our economy, it
will help to make our economy much more stable,”
Obisesan said.
He said that capital market operators should ensure
further development of domestic investors’ confidence
in stocks because it was critical for long-term stability.
According to him, Nigerian investors are the ones that
have a long-term stake in the economy and should be
encouraged at all times.

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