Nigerian stocks crash to nine-month low as investors expect Q3 results

“We expect continued bargain hunting as investors look forward to the Q3-2022 earnings season, thus cherry-picking stocks with great underlying fundamentals,” analysts at United Capital said in an outlook note for this week seen by PREMIUM TIMES.

Return on had reached a high of above 20 per cent earlier this year. But yield is taking crushing blows from three straight hikes in the benchmark interest, which is washing away vast amounts of smart money from stocks into fixed income securities, seen by investors as offering better yields.The coming of the election season is not favourable either as international investors weigh risks of putting their money in a clime as politically tumultuous as Nigeria, hurting stocks.

It beggars belief that with the severity and numeracy of failings associated with the APC government catalyzed by previous PDP woeful administrations, Nigerians are shamelessly gearing up to vote either party's candidate. God, please intervene now and save the country.

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