Buy stocks now for rainy days, Experts advises
An Economist, Mr Godwin Anono, on Thursday advised potential investors to buy stocks in the equity market despite its decline and reap dividends in the future.
Anono, also the President, Standard Shareholders Association of Nigeria, made the submission in Lagos.
He said that it was imperative for would be investors to buy stocks in the equities market now because of its current decline.
“A discerning investor will take position now and pick potential good stocks.
“After the next general election scheduled for early 2019, the market will pick up,’’ the economist said.
Anono expressed optimism that after the peaceful conduct of the general election, the Foreign Portfolio Investment (FPI) would come into the market in droves owing to the prospects.
“The fundamentals of our market are good and the yields are rewarding, if the indicators are right.
“It is about the most worthwhile places of investors in the continent for FPI regardless its current short comings caused by elections,’’ he said.
However, the market capitalisation had on Wednesday dipped further by N55 billion or 0.48 per cent to close at N11.325 trillion compared to N11.380 trillion on Tuesday.
Also, the All-Share Index which opened at 31,173.71 lost 150.24 points or 0.48 per cent to close at 31,023.47.