Shell Energy Entrepreneurs banner Yudala 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

Views: 4,316


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


 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

 

You may also like...
Economy: Jonathan vs Buhari, By Garba Shehu

Ebonyi to observe Sept. 5 as day of...

Insurgency: Adamawa Governor kicks against withdrawal of troops...

Expect moderate dust haze, sunny, cloudy conditions —...

Accident Update: Schumacher in coma, fighting for life...

Buhari: From Change Champion to ‘Baba Go Slow’...

Military chiefs finalise plans for regional force to...

El-Rufai appoints Perm Secs, Advisers; Head of Service...

Akwa Ibom moves to control cattle grazing

Biafra: No Nnamdi Kanu, no dialogue with FG,...

Breaking: Ebola claims life of senior Nigerian doctor...

66 percent of Nigerian prison inmates are on...

 

Latest News Fresh PDP collapses after only one month FG to begin establishment of cattle colonies next week INVESTIGATION: Nigeria wastes 40 percent of food while millions of citizens die of hunger Police nabs 20 visa racketeers in Lagos Borno Govt. relaxes curfew in Maiduguri Rescued Canadians, Americans identified Trouble ahead as US Government shuts down •The implications Medical doctor tests positive to Lassa fever in Kogi Of Universal Senator, sycophants and Peter Obi, By Valentine Obienyem APGA stalwart eyes Senator Stella Oduah’s seat BREAKING: Kidnapped American, Canadian rescued in Kaduna Why I stand with Buhari, By Femi Adesina

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (315,693 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (305,808 views) Shameless Genevieve Nnaji exposes breasts in public (245,111 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (201,571 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (190,222 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (179,552 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (155,669 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (139,965 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (136,126 views) Lagos plane crash: Journalist releases victims’ names (124,596 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (121,855 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (119,025 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (33) Business (2,854) Business Verdict (32) Columnists (792) Complaints & Requests (94) Enterprise & Opportunities (200) Entertainment (431) Features (541) Global Business Monitor (222) International (1,749) Interviews (139) Live Commentary (28) Love Matters (100) News (32,034) Opinion (868) Pidgin (10) Politics (4,361) Religion (666) Sports (1,407) Stock Watch (26) AMA & Al Jazeera Global Update

 

CBN Banner advert

CBN Words on marble

 

 

Thierry Henry in Lagos Nigeria

 

APO Group Partner

 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement



 

 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!