Following the drive to position in some fundamentals stocks with low prices, Pension Fund Administration exposure to the Nigerian equities market increased to N856.16billion in November from N828.17 billion reported by National Pension Commission in October 2022.The PFAs portfolio in the stock market contributed 5.8 per cent to the N14.
For instance, Dangote Cement Plc saw its price gaining 18.96 per cent to close November trading at N262.30 per share from N220.5 per share it opened for trading, while MTN Nigeria Communications gained 10.97 per cent to close at N218.5 per share from N196.90 per share. He said, “The PFAs do not take trade in the stocks with speculative report as they trade long-term. Attractive revaluation led to PFAs renewed exposure in the stock market in November 2022.”
The vice president, Highcap Securities, Mr. David Adonri acknowledged the PFAs’ role in lifting the stock market, stressing that some high-network investors’ opted to invest in the stock market.
France Dernières Nouvelles, France Actualités
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