Operators Hinge Boost In Equity Market On Reforms

Sequel to the ongoing reforms in the nation’s capital market, some market operators have agreed that the expected gains from the reforms would be much visible in 2012, just as it would lead to the growth and development of the market.

They said the reform which was majorly tailored towards repositioning the Exchange for profitability and returning investors’ confidence in the face of the global financial crisis would be more stable in the year under preview.

Reacting in an interview on the outlook of the market for 2012 in the face of the sustained depletion in the value of equities, a senior stockbroker who pleaded anonymity said the future of the market held a better promise for next year because a lot of things that happened this year has to do with how to reshape institutions and listed companies.

According to the Managing Director of PAC Securities Limited, Mr. Eugene Ezenwa: “We are very optimistic that year 2012 will be better, in terms of better capital appreciation and liquidity within the system.”

Ezenwa noted that, different products and initiatives being put up by the present NSE management would begin to translate positively into the market.

According to him:“With good fundamental, good result, be assured that next year is promising. It is not as if the companies are presenting bad result, the result being released are good.

“Therefore, next year is going to be better than this year, this is because the banking sectors’ reform is almost? over, so by next year, we are expecting nothing other than good turnaround of the economy. The banking sector reform has affected the capital market,” he added.

The Chief Executive Officer of the NSE, Mr. Oscar Onyema, said that the penny value of stocks on the equities market was an opportunity for every? investor to invest in the securities market.

He said that approaching the market at this point in time would give opportunity to investors to enjoy not only capital appreciation but huge return on investment when the market fully rebound.

Onyema who made these remark in a chat recently said that the market fundamentals of? listed companies were? sound, noting that investors’ apathy towards purchase of shares in the domestic economy in the face of global phenomenal has been one major issue militating against market growth.

“Lots of stocks which are presently trading below their book value is an opportunity for discerning investors to invest in the market,”he added.