Goddy Egene
Stockrokers have urged investors to take advantage of low prices of shares to increase their portfolios. Speaking under the aegis of Association of Stockbroking Houses of Nigeria (ASHON), they said the ongoing downswing in stock market will be short -lived because market fundamentals remain strong. According to them, shares of many listed companies are undervalued, selling below their intrinsic values, saying there can be no better time to beef up portfolios in anticipation of superior return on investment (ROI).
The stock market has witnessed a consistent bear run, leading to a year—to-date decline of 7.5 per cent as at Wednesday.
However, ASHON, in statement signed by its chairman, Chief Patrick Ezeagu and General Secretary, Mr. Sam Onukwue said investors should see the bearish period as entry opportunity.
Realising the…
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