Investors
By Chinyere Joel-Nwokeoma
Lagos, July 16, 2018 (NAN) A financial expert, Mr Sola Oni, on Monday urged government at all levels to pursue economic and political activities that would promote investment to sustain investors’ interest in Nigeria.
Oni, Stockbroker and Chief Executive Officer, Sofunix Investment and Communications, told the News Agency of Nigeria (NAN) in Lagos that friendly economic and political activities geared toward investment promotion would boost confidence in the nation’s bourse.
He said political, economic and social stability would sustain both foreign and local investors’ interest in the nation’s equities market as well impact positively on the operations of quoted companies.
Oni stressed the need to pursue friendly fiscal and monetary policies that would strengthen investment.
According to him, foreign portfolios consider the risk-return trade off before they dive into any market.
He said that they were ready to leave at any point in time if their investment objective was threatened.
“There must be renewed efforts on investor education in the entire capital market ecosystem, the regulators, operators, quoted companies, the financial press for advocacy and shareholder groups,’’ Oni said.
He said the overriding foundation of a stock market was investor trust and sustained confidence.
Oni said investing public must be constantly reminded that capital market was for medium and long-term investment and only speculators play it on short-term.
“Every investor should engage the services of stockbrokers maximally to understand the dynamics of investment.
“For instance, an investor who does not know whether he is a risk taker, risk averter or risk paranoid stands a high probability of losing his entire money to the point of committing suicide.
“As for institutional investors, they are more sophisticated in risk analysis, especially country risk in case of foreign portfolio investors,’’ he said.
NAN reports that a total of 1.23 billion shares worth N17.33 billion were traded by investors in 17,362 deals last week.
This was against a total of 1.84 billion shares valued at N16.59 billion exchanged in 18,941 deals in the previous week.
The Financial Services Industry (measured by volume) led the week’s activity chart with 842.82 million shares valued at N9.59 billion traded in 9,231 deals.
The Consumer Goods Industry followed with a total of 113.67 million shares worth N4.66 billion achieved in 3,120 deals.
The third place was occupied by Services Industry with a turnover of 105.62 million shares valued at N519.81 million in 593 deals.
The All-Share Index during the period lost 232.82 points or 0.62 per cent to close at 37,392.77 against 37,625.59 posted in the preceding week.
Also, the market capitalisation which opened at N13.629 trillion shed N83 billion or 0.61 per cent to close at N13.546 trillion. (NAN)
JNC/AOM/EEE
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Edited by Abdullahi Mohammed/Ese E. Ekama