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BUSINESS & ECONOMY

Expert Urges Stock Market Investors to Take Advantage of Low Stock Price

The Acting President, Chartered Institute of Stockbrokers (CIS) Oluwaseyi Abe has charged  reassured both individuals and institutional investors to take advantage of the current low share prices to beef up their portfolios in the capital market.

Abe who responded to questions from reporters explained that the market had always been a barometer that gauges the mood of the economy, noted that the Nigerian economy would pick up soon as indices of prior uncertainties were fizzling out, especially, with the appointment of the new ministers.

According to him, chief executive officers of quoted companies are working round the clock to ensure shareholder value. Abe stated that due to the lull in the economy and the need to boost disposable income and meet other exigencies, many investors had dumped shares thus inducing bearish trading.

He however asserted that market fundamentals remained strong and share prices of many blue chip companies were trading below their intrinsic values.

Abe implored investors to take advantage of the cheap prices to increase their stakes in the quoted companies .

He explained that the prices would soon pick up.

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