He said, “Profit-taking continues on the back of the strong gains we’ve seen since the beginning of the year. Investors seem to be reassessing their positions on the back of recently released inflation data.”
The expectation is that this could lead to further tightening of monetary policy by the MPC at its next meeting. “Typical anxiety that typically surrounds election periods in Nigeria could also be a factor. We cannot rule out the anticipated impact of the poor roll-out of the demonetisation policy of the Central Bank Of Nigeria on corporate earnings in the first quarter of the year. Those results will start coming to the market next month.
“Though the participation of FPIs in our market has been muted of late, we cannot rule out the chilling impact that recent happenings in the International banking sector could have on the ones that are still here; I am talking of the collapse of Silicon Valley Bank and the likes.”All rights reserved.
Very good let the suffering continue as Nigerians no wan get sense
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