Nigerian stock Exchange

Capital market operators foresee improved growth of NSE in 2nd half

Lagos  –  Some capital market operators on Thursday expressed optimism that the Nigerian Stock Exchange (NSE) would witness increased growth in the second half of 2016.

They told the News Agency of Nigeria (NAN) in Lagos that the market would stabilise with the Federal Government implementation of the 2016 budget, which would boost liquidity in the system.

The President, Association of Stockbroking Houses of Nigeria (ASHON), Mr Emeka Madubuike, said that the performance would be better because of the uncertainties affecting economic growth would have reduced.

Madubuike urged the CBN to sort out the uncertainties surrounding the new foreign exchange policy.

“For instance, high exchange rate will affect the performance of the manufacturing sector and this should be settled fast,’’ Madubuike told NAN.

He explained that manufacturers were spending more naira to buy foreign exchange for importation of raw materials.

According to him, people are still watching and looking to see how the policy will impact positively on the lives of ordinary Nigerians.

He said that some investors were still watching to ascertain the impact of Britain exit from the European Union (EU).

Madubuike explained that the banking stocks, consumer goods and oil and gas would dominate market activities during the period due to the government policy direction so far.

Related Story:  Kafanchan traders lament business lull

Also speaking, the Chief Operating Officer, InvestData Ltd., Lagos, Mr Ambrose Omordion, said that budget delay, appointment of ministers and unclear economic policy affected market growth in the first half of 2016.

Omordion said that economic activities were stagnated which led to a negative Gross Domestic Product (GDP) in the first quarter.

He said that implementation of the budget would kick start activities that would gradually pull the economy away from recession.

According to him, the new CBN FX policy, if well implemented, would provide the needed liquidity available in the system.

“The actual impact of government policy will be felt in 2017,’’ Omordion said.

NAN reports that the NSE All-Share Index’s year-to-date return stood at 4.09 per cent as at June 29. (NAN)

MTN News Alert
DMON
To receive our mobile newspaper on MTN delivered on your phone, text SAWD to 4900 at N50 per week or SAMD to 4900 at N150 per month.
For information on press releases, photos, promotional events and adverts, call or send text to 08173460599 or 08094208271or send email to: info@sundiatapost.com

Leave a Reply

Be the First to Comment!

wpDiscuz
Sundiata Post Media Ltd.

Address: 3rd Floor Office Suite, Bayelsa State Guest House, Plot 1038, Shehu Shagari Way, Maitama, Abuja, Nigeria.
Tel: +234(0)92900705, +234(0)8173460599
Whatsapp: +234(0)8053069436
BBM PIN: 5619150D
Email: info@sundiatapost.com
Website: www.sundiatapost.com

Enugu Regional Office: SW 1 New Haven Shopping Mall, Enugu, Enugu State, Nigeria.
Tel: +234(0)7062582838
https://twitter.com/sundiatapost/

London Office: 18 Belgrave Avenue, Wd18 7UE, Watford, United Kingdom.
Tel: +447417554143
Dubai Office: PAU Management Suite, Level 23 - Boulevard Plaza Tower 2, Emaar Boulevard,
P. O. Box 124342, Dubai, UAE.
Tel: +971 4 4096849 | Fax: +971 4 409 6850
About Us

SundiataPost is published by Sundiata Post Media Limited, Sundiata Post is Nigeria’s most authoritative online newspaper and ranks among the top five online news platforms in Nigeria.

Guild of Corporate online publishers
ACCREDITED MEMBER
A Glance at Our Advert Rate.

Inside Pages

Size In Pixels - Amount

120×180 - N27,967.50

300×100 - N24,695

Text Link - N11,275

More Details info

About Us | Contact Us | Privacy Policy | Terms of Use | Advert Rate



Recommended by the Editor:
Gudu traders to enforce sell of standard building materials, auto parts
Gudu traders to enforce sell of standard building materials, auto parts

Abuja  -   The new leadership of traders at Gudu Market, FCT, has pledged to enforce the sale and display...

Close