2016 Stock Market Performance Review: Capital Bancorp MD appears on TVC Business Zone
The 2016 investment year will remain indelible in the minds of investors on the Nigerian Stock Exchange. This stems from the fact that the nation’s stock market in the reviewed period experienced a major setback which eroded investors’ confidence with over N1 trillion drop in market capitalization.
The nation’s Gross Domestic Product (GDP) recorded a negative growth of -2.1 per cent, with the Naira exchanging for N304 per dollar at the official market in the latter part of the year.
However, most stakeholders attributed the prolonged downward sentiment in the equities market and economy in general to tight macroeconomic policies, falling crude oil prices which thwarted stakeholders expectations and led to the exit of foreign investors
Higo Aigboje shared deep insights on the 2016 market performance with respect to its year to date return in comparison with the year to date return obtained in 2015. He gave insight into the bond and stock markets and how various macroeconomic variables like the inflation rate, exchange rates the current economic recession has impacted their performance and ultimately the interest rate generated. He, however, emphasized that though the Oil and gas sector did fairly well towards the end of 2016, the volatility of a stock in that sector could be highly attributed to the fact that the sector has not been fully de-regularized.
We will continue to look forward to having experts from our pool of highly talented customers and the Nigerian capital market at large to equip and enlighten our audience on the happenings in the Nigerian Capital Market.
Watch video below: