As aggrieved parties at the just-concluded presidential election approach the court to seek redress, stock market investors at the weekend urged the ruling All Progressive Congress to adopt a reconciliatory approach and avoid comments capable of heating up the system with dire consequences for the stock market.
They warned that political uncertainties and insecurity that pervaded the country in the past, impacted negatively on investors’ sentiments, asset valuations, country risk profile as well as portfolio allocation decisions. Indeed the nation’s stock market had defied election anxiety to record unprecedented improvement in the past few months propelled by investors repositioning ahead of the 2022 full-year earnings and dividend declaration.
Specifically, President of Ibadan Zone Shareholders Association, Eric Akinduro, said the political environment has witnessed a lot of tension recently, warning that the market is too sensitive to issues around the political space. President of New Dimension Shareholders Association, Patrick Ajudua said: “Aggrieved parties should allow the court process to flow without any negative utterances, as it will affect the positive trend we are enjoying currently in the market.