Read market data to emerge profitable investor- Onyema
Understanding how to use market data has been ascribed as one of the key tools that will make investors in the capital market record impressive growth on their investments.
Disclosing this at the NSE 2nd Market Data Workshop in Lagos, CEO, Nigerian Stock Exchange, Mr. Oscar Onyema said that though there are many ways through which capital market data provides value for users, it helps investors understand market trend and how to play the market.
Onyema said “Historians are of the opinion that history always repeats itself, similarly, a familiar saying about history tells us that “history is written by the victors”. If this saying is true, then it corroborates the idea that “the market always wins.”
The NSE bos, however, urged investors to apply use of market date in making investment decisions, and added that hence market events of yesterday were written in Market Data, just as a book is written for its readers, it will always equip its users to be successful in achieving their investment objectives in the market.
He said, “So, if it is true that readers are leaders, then it is safe to conjecture that the investors who “read” Market Data would eventually lead the market –i.e. emerge profitable.”
Onyema lauded the year to date performance of the Nigerian capital market, saying that though it closed 2016 on negative trend, it has remained profitable this prevailing year, returning higher value to investors who have effectively deployed use of market data.
He said, “The NSE’s ASI is arguably the best performing index YTD in Africa in comparison to major indices in the same league.
“Considering the fact that our market closed the previous year on a negative note, the NSE’s ASI is up by 32.05% YTD. Notably also, is the fact that we have witnessed an unprecedented local participation in our market within the last one year.”
Stories by Bonny Amadi
Related to this topic:
