Professor of Finance and Capital Market, Uche Uwaleke, says the Nigerian Stock Exchange will likely close 2020 in red due to coronavirus.
The lecturer at the Nasarawa State University, Keffi, spoke to the News Agency of Nigeria on Thursday. The don predicted that telecommunication stocks would likely outperform the market because of people’s adaptation in the wake of coronavirus.Uwaleke asserted that pharmaceutical stocks and insurance companies’ stocks would offer investors increased returns on their investments.
The professor explained that a lot will depend on the global response to the negative impact of COVID-19 and how soon the world economy gets restarted.
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