x

NSE: Expert tips financial, health, telecomms as sectors to watch in 2020

A capital market expert, Mr Sola Oni, on Thursday identified finance, health, technology and agriculture as sectors to watch on the Nigerian Stock Exchange (NSE) in 2020.
Oni, the Chief Executive Officer (CEO) of Sofunix Investment and Communications, stated this in Lagos while speaking on market outlook for 2020.
He said that the financial, health, technology and agriculture sectors would provide good returns for investors in 2020.
“Regardless of the nature of the economy in 2020: financial , health , technology and agriculture sectors have strong potential to provide good returns for investors.
“Financial sector is noted for liquidity. The sector is fast attracting millennial customers through innovative services that thrive on technology.
“The health sector is recording advancement in medical equipments while the pharmaceutical sector is evolving on daily basis.
“We, therefore, expect the health sector to provide investment opportunities in 2020. The technology sector, itself, is ruling the entire business world.”
He added that the relevance of Artificial Intelligence(AI) was already gaining momentum.
“Also, innovative investments such as blockchains and Cryptocurrency are highly dependent on technology.
“Trading on the securities market is technology-driven. The sector holds potential for good returns,” Oni said.
He noted that Nigeria’s Capital Market operated under a tough economic climate in 2019 as evident in incessant bearish trend until the policy of the Central Bank of Nigeria (CBN) on Open Market Operations (OMO) crashed yields on fixed income securities.
On outlook for 2020, he said that the NSE would remain an investment destination for both local and foreign investors and would be driven by a mix of factors.
“The outlook for the market in 2020 is attractive. But this is contingent on fixing of Nigeria’s weak economy where the Gross Domestic Product (GDP) currently grows at 2.3 per cent while the country’s population grows at 2.6 per cent; a misnomer,” he stated.
Oni urged the Federal Government to ensure faithful implementation of the 2020 budget which was approved on record time.
“Government at all tiers should also take advantage of the market to mobilise fund for development projects.
“Effects of negative real return on fixed income securities following the new policy on OMO will continue to enhance demand for equities and attract more investors into the market.
“We expect consolidation to be the hallmark of the Insurance Sector as the market shall witness a flurry of mergers and acquisitions as well as business combination.
“This is in a bid by insurance companies to recapitalise in line with the new policy of the National Insurance Commission (NAICOM),” he added.
He also said, “We expect intense competition among Securities Exchanges with the emergence of FMDQ as a full fledged Exchange and Lagos Commodities and Futures Exchange (LCFE) which is set to commence as a Pan African Exchange.” (NAN)

Hot this week

CSGGG Hails Rivers Sole Administrator’s Leadership

…Says Peace Brokered, Trust Restored…Lauds Transformative Governance, Credits Tinubu’s...

Tinubu Flags Off Construction of Benue’s First Flyover

By Isaac Kertyo, Makurdi President Bola Ahmed Tinubu has flagged...

Public Alert: Increased Water Release from Goronyo Dam

By Muhammad Ibrahim, Sokoto The Sokoto Rima River Basin Development...

NCPC To Commence 2025 Easter Pilgrimage Exercise To Israel, Jordan

By Joyce Remi-Babayeju The Nigerian Christian Pilgrim Commission, NCPC, is...

A’ibom moves to end epileptic electricity at Summit

By Ogenyi Ogenyi,,Uyo In a renewed move to end electricity...

WIELD-I to Protest Against NAFDAC Over Toxic Chemicals, Fake Drugs

…Calls for Removal of Prof. Mojisola Christianah Adeyeye The Women’s...

Calls for Reform Dominate Global Governance Initiative Seminar in Abuja

Nigerian and Chinese officials, scholars, and policymakers have called...

Senator Lalong Congratulates Plateau APC Woman Leader Alice Dimlong at 50

Senator Simon Bako Lalong, representing Plateau South Senatorial District...

Sokoto Govt Flags Off Food Distribution for Vulnerable Groups

By Muhammad Ibrahim, Sokoto The Sokoto State Government says it...

AIG Adenola Calls for Strong Police-Media Partnership in Bayelsa

The Assistant Inspector General of Police in charge of...

NAPS Backs Kogi Poly on Fees Increment, Shelves Protest

By Noah Ocheni, Lokoja The National Association of Polytechnic Students...

Only Traitors Wish For Nepal-Style Protest In Lagos, Says Group

The Defend Nigeria Movement (DNM) has joined in warning...

Related Articles

Popular Categories

spot_imgspot_img