Some shareholders in the capital market on Friday said that stability would soon return to the market following impressive financial returns of quoted firms.
They told the News Agency of Nigeria (NAN) in Lagos that the impressive financial returns of companies would rekindle investors’ interest in the market.?
Alhaji Gbadebo Olatokunbo, a member of the Nigeria Shareholders Solidarity Association, said that investors were gradually returning to the market due to improved dividends and bonuses.
Olatokunbo said that quite a number of companies had started paying dividends unlike in the past when quoted firms posted losses.
?“Investors are beginning to see that there is light at the end of the tunnel after losing billions of naira in the market,” he said.
Olatokunbo, however, called on the Federal Government to pay more attention to the market, stressing that the market should be devoid of politics to retain investor confidence.
Mr Boniface Okezie, the President of Progressive Shareholders Association of Nigeria (PSAN), attributed the recent growth of the market to change in leadership at the Securities and Exchange Commission (SEC).
Okezie said that various initiatives and interaction between the management of SEC and stakeholders might have restored investor confidence.
He said that the acting-director general of the commission was using his experience as a stockbroker to ensure that outstanding market issues were settled.
Okezie said that confidence building was very important for the growth of the market.
Mr James Osoka, another shareholder, said that the disagreement among the former management staff of SEC made investors to shun equities.
NAN recalls the capital market indices have been on the rise in the last two weeks.
The All-Share Index appreciated by 382.05 points or 1.7 per cent to close at 22,492.96 from? 22,110.91? between July 6 and July 12.
Similarly, the market capitalisation, which opened for the week at N7.058 trillion rose by N122 billion or 1.7 per cent to close at N7.180 trillion on July 12. (NAN)