Rising inflation in Nigeria, tensed sociopolitical developments, cash and fuel scarcity are factors expected to depress the equities market and propel migration to the fixed market in the current quarter (Q2).
Nigerian stockbrokers who gave predictions on stock market performance for the second quarter (Q2) said, though the equities market showed remarkable resilience by closing on a positive note in the first quarter, primarily due to impact of full year (2022) corporate results and distribution of dividend to shareholders, the Q2 may not go in the same pattern.
They, however, pointed out that investors’ reaction to Q2 corporate performance will reflect the negative socio-political and economic events that occurred in Q1, which would ultimately depress the market.