Investment value depreciation: Operators predict better days ahead

Despite the huge losses recorded inthe equities market, sequel to the nationalisation of three quoted banks, investors who seem to be despondent in the equities market have been enjoined not go back on their investment drive as the domestic stock market is still the bastion of hope for investors in the economy.Leading brokerage firms at the Exchange gave this advice on Friday on the backdrop of the continued apathy being shown by investors who have in one way or the other suffered losses due to the banks' nationalisation.They said that, notwithstanding the depletion of the value of price of shares in the market, the present situation in the market did not necessarilly call for alarm.The brokerage firms who urge investors to keep hope alive, noted that considering the meltdown in the prices of shares which has become a global phenomena in the recent times, confidence in the market must be sustained to guard against continued erosion of investment value in the market.Speaking during an interview on the direction of the market in the face of the bearish nature of daily trading activities, senior brokers who spoke with Nigerian Tribune under condition of anonymity, said notwithstanding the depletion in the value of shares, the best time to invest in the market is now when most stocks is at their penny value.According to them, 'investors should be hopeful while waiting for the fourth quarter result of most listed stocks, especially the banking stocks.The brokers who noted that change were going to be effected in the market, explained that there would be so many changes put in place to turn the market around.They stated that companies were declaring good results 'but this is having no impact in the market, brokers and client are tired. The investors should believe in the country's economy, because it is when the government put infrastructures in place that things will work out fine.The brokers stressed that investors would definitely make profit in the year. 'Although the signal is presently lacking as there is no cogent governmental policy for the drive. People waited for election to come and go, but as it is now, when the cabinet is well constituted and the signals are there, the market will absolutely shore up.
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