Tuesday, May 8, 2012 / Proshare Polls

The performance of stocks listed on the Nigerian bourse since the beginning of the financial meltdown which started to show effect in Nigeria in March 2008 has been extremely low while 2012 stock analysis showed that forty-six( 46) stocks recorded price appreciation while fifty-seven (57) others moved otherwise.

The global financial crunch really contributed to the outflow of Foreign Direct Investment (FDI) from the Nigerian Capital Market which was strongly encouraged and preached around the world to heavy investors by the Olusegun Obasanjo led civilian administration.

The Chief Executive Officer of the Nigerian Stock Exchange (NSE), Mr Oscar Onyema, said the Nigerian capital market lost foreign investments worth over N313bn in the year 2011. This, according to the NSE CEO, was due to the various challenges that rocked the global economy during the year.

However, the NSE CEO expressed optimism that trading activities in the capital market will close positive in the year 2012. He added that contrary to what obtained in the market in the last few years, the regulators had set the pace for market recovery this year and this was due to the various reforms carried out by the regulators since last year.

This poll was conducted within the space of one week and was meant to gauge the opinion of the market and investing public on which of the top performers will be their top stock pick for 2012

88 respondents, representing 58% of the entire poll population, picked NCR Nigeria Plc as their top stock for the year 2012 while another 50 respondents, representing 33%, picked NAHCO Plc as their top stock.
 

7% and 3% respondents picked Okomu Oil Palm and CAP Plc respectively while PAINTCOM, the last stock on the list, recorded 0%.

With the leadership of the Nigerian Stock Exchange expressing optimism that Nigerian Capital Market will close positive this year due to various reforms carried out by the regulators and with activities of market making in the equities market set to begin.  It only shows that stock may eventually close positive and higher as envisaged.

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