They told the News Agency of Nigeria (NAN) in separate interviews yesterday in Lagos that stock market performance in 2019 would be shaped by both external and internal factors.
Prof. Uche Uwaleke, Head of Banking and Finance Department, Nasarawa State University, Keffi, said that U.S. Federal Reserve monetary policy as well as the ability of Organisation of Petroleum Exporting Countries (OPEC) and allies to regulate oil prices would shape stock market performance in 2019.
Chartered stockbroker and chief executive officer of Sofunix Investment and Communications, Mr. Sola Oni, attributed the lacklustre performance of the stock market this year to illiquidity in the system.
Oni explained that massive share dumping by nervous portfolio investors and their Nigerian counterparts who were apprehensive of likely crisis during 2019 general elections contributed to the market lull.
“This is reinforced by unguarded utterances of the political class,” he added.
According to him, the outcome of the next general elections and ability of government to tackle the economic challenges, especially investment in infrastructure, will shape the stock market next year.
Effective management of fiscal and monetary policies and creation of sustainable conducive business environment, among others, are expected to shape activities in the stock market, he asserted.
“However, there are investments that thrive during recession. Hence, investors should take advantage of professional advice from stockbrokers and other investment advisers who keep tabs on investment opportunities,” he advised.
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