Investors have been urged to take advantage of prevailing low equities pricing in the stocks market to boost their investments in the market in order to take opportunities of market reversal commencing end of second quarter.
Professor of Finance and Capital Market and Head of Banking and Finance, Nasarawa State University, Keffi, Uche Joe Uwaleke, gave the advice in Lagos as guest lecturer at the Capital Market Correspondent’s Association of Nigeria (CAMCAN) quarterly forum. Unveiling higher earnings opportunities in the Nigerian stock market, Uwaleke expressed optimism that the stock market would rebound in the third quarter.
He said the country’s market PE ratio ranked lower than the established PE ratio index of established global investment firms, therefore, establishing greater room for growth.
Uwaleke, who lectured on the theme: “Stock Market in the First Quarter 2019 and Post-election Prospects”, said the Nigerian market which ranked as the world’s third most rewarding market in 2017, only after Turkey and Argentina, and became bearish subsequently, was poised to enter into another bullish era.
Uwaleke who is the President of the Chartered Institute of Bankers of Nigeria (CIBN), Abuja branch, said swearing in of the newly elected president and early constitution of cabinet members, lowering Monetary Policy Rate (MPR) by the Monetary Policy Committee (MPC), increase in minimum wage, increase in oil price and continued stability in Forex would impact on the market.