Between March and April, there was a 28.19% rise in the total amount of transactions made by foreign investors on the Nigerian Exchange Ltd. (NGX). This was disclosed in the Domestic and Foreign Portfolio Investment Report that the NGX provided to the reporters in Lagos.
The Exchange surveys market players on their monthly trade data about their flows of foreign and domestic portfolio investments (FPIs). According to NGX, in April, the amount increased from N94.26 billion, or roughly 70.83 million dollars, in March to N120.83 billion, or roughly 90.83 million dollars.
According to the Exchange, N346.23 billion worth of domestic and international portfolio transactions were made in Nigeria’s equities market in April. But according to the NGX, as of April 30, 2024, the total transactions at the country’s bourse decreased by 35.71 per cent.
The figure dropped from N538.54 billion, which is about 404.69 million dollars in March to N346.23 billion, which is about 260.24 million dollars in April.
The regulator said the performance in April of the current year, when compared to April 2023 which stood at N191.21 billion, revealed that the total transactions increased significantly by 81.07 per cent year-on-year.
NGX mentioned that in April, the total value of transactions executed by domestic investors outperformed transactions executed by foreign investors by circa 30 per cent.
“A further analysis of the total transactions executed between March and April revealed that total domestic transactions decreased by 49.27 per cent from N444.28 billion in March to N225.40 billion in April.
“Also, institutional investors outperformed retail investors by 10 per cent. A comparison of domestic transactions in March and April revealed that retail transactions decreased by 54.89 per cent from N223.37 billion in March to N100.77 billion in April 2024,” it said.
According to the Exchange, the institutional composition of the domestic market decreased by 43.58 per cent from N220.91 billion in March to N124.63 billion in April.
