Fidelity bank banner Camano banner
Experts identify factors to determine stock market performance in 2016

By News Express on 25/12/2015

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 5,207


Some financial experts on Thursday said that developments in the global oil market and foreign exchange policy would determine capital market’s performance in 2016.

They told the News Agency of Nigeria (NAN) in Lagos that the slide in the nation’s bourse would continue if the price of crude oil continued to plummet at the global market.

Malam Garba Kurfi, the Managing Director, APT Securities and Funds Limited, said that oil price was critical to stock market growth in 2016.

Kurfi said that foreign exchange policy would be another determinant factor of the market’s direction, noting that government should pursue friendly monetary policies.

He said the current monetary policy should be adjusted by the Central Bank of Nigeria (CBN) to the current realities in the economy to achieve the desired growth and development.

Kurfi said that the apex bank should be mindful of Nigeria’s foreign exchange policy to be pursued in 2016 to avoid heating up the economy.

He said that the apex bank needed to reserve its planned closure of foreign exchange supply to Bureau de Change operators to avoid hike and scarcity of dollar in the country.

Kurfi said that the decision would scare foreign investors because many local and foreign investors patronised the parallel market.

On the 2016 proposed budget, he said that the critical thing was its implementation.

Kurfi said that the budget would reinforce economic activities if properly implemented, noting that government should diversify the economy to increase revenue generation.

Mr Harrison Owoh, the Managing Director, H J Trust & Investment Limited, also said that the market would pick up with friendly economic policies.

“If the policies are bad, the capital market will continue to decline in 2016.”

He added that the government should provide a level playing field for the market to rebound in the coming year.

Owoh said that the slump in crude oil price affected stock market growth globally in 2015, adding that the trend would continue if there was no change. (NAN)

Source News Express

Posted 25/12/2015 05:58:45 AM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

 

You may also like...
NSE market capitalisation dips by 1.84 per cent...

Cape Town running out of water

Buhari no longer in charge — Secondus •Declares...

6 ways to overcome your smartphone addiction

Shehu Sani inaugurates grassroots development programme for constituents...

Crisis rocks Owerri Anglican Dioceses

Anambra APC governorship ticket not a do-or-die affair:...

Fire disaster: Ambode commiserates with family of dead...

Arik Air owes us (not FAAN) N12.5 billion:...

Breaking News: Tragedy in Ibadan as tanker fire...

FG introduces new terrorism law

Armed bandits kill community leader in Benue

 

Latest News Small Doctor scared of being thrown into jail this Yuletide Teni nominated Best New Artiste Mike Ezuruonye speaks to the youth My own Xmas don start Manchester United sack Mourinho BREAKING: Police barricade National Assembly entrance Buhari no longer in charge — Secondus •Declares 2019 year of liberation for Nigeria 9 soldiers face court martial over indiscipline Travel ban: FG submits names of 39 alleged treasury looters to Immigration Pandemonium in Ekiti as lunatic chases teachers, pupils with stones 2019: Tinubu eyes 3m votes for Buhari in Lagos Police ban pasting of campaign posters at night

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (431,231 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (395,617 views) Shameless Genevieve Nnaji exposes breasts in public (328,478 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (282,764 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (248,487 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (229,566 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (212,574 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (193,797 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (180,294 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (170,829 views) Lagos plane crash: Journalist releases victims’ names (167,628 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (154,056 views)

 

CBN banner Zenith Zero Balance First Bank chat banking

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (76) Business & Economy (3,889) Business Verdict (54) Columnists (974) Complaints & Requests (95) Enterprise & Opportunities (208) Entertainment (575) Features (681) Global Business Monitor (313) International (2,842) Interview (167) Live Commentary (28) Love Matters (147) Maggie's Blog (78) News (41,546) Opinion (1,154) Pidgin (13) Politics (8,225) Religion (920) Sports (1,828) Stock Watch (35) AMA & Al Jazeera Global Update

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera