Capital market operators call for investment education in 2016
Two capital market operators on Saturday urged the Securities and Exchange Commission (SEC) and the Nigerian Stock Exchange (NSE) to embark on strategies that would encourage local investors’ participation in 2016.
They told the News Agency of Nigeria (NAN) in Lagos that the present realities in the global oil market made it imperative for market regulators to look inwards.
Mr Okechukwu Unegbu, a former president, Chartered Institute of Bankers (CIBN), urged SEC and NSE to reach out to many investors and boost their confidence in the equities market.
Unegbu said that most investors that got their hands burnt during the global financial meltdown have yet to access the market.
He urged them to place emphasis on local participation in 2016 against the foreign portfolio investors who would exit with the persistent fall in the crude oil price and naira.
Unegbu said that developments in the global crude oil market were a crucial factor for stock market stability in 2016.
According to him, government should be willing to introduce tax holidays to woo new companies to list at the market.
He urged retail and institutional investors to take advantage of low price of equities and increase their stakes in the market.
Also, Malam Garba Kurfi, the Managing Director, APT Securities and Funds Ltd., said that market regulators and operators should collaborate on the best enlightenment to enhance local investors’ confidence.
Kurfi said that the commission and NSE should embark on campaign to bring back local investors to take advantage of the present market trend.
NAN reports that the market capitalisation of the equities market between Dec. 14 and Dec. 18 lost N88 billion or 0.82 per cent.
Also, the market capitalisation closed trading on Dec. 18 at N9.267 trillion against N9.344 trillion achieved on Dec. 14.
The All-Share Index during the period shed 226.23 points or 0.83 per cent to close trading on Dec. 18 at 26,953.05 against 27,179.28 posted on Dec. 14.
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