Total value of transactions at the Nigerian Stock Exchange (NSE) shot up by 117.88 percent from N127.82 billion recorded in October 2017 to N278.49 billion (about $0.91 billion) in November.
According to statistics from the NSE, foreign investors outperformed domestic investors by 7.8% as total foreign transactions increased significantly by 121.91% from N67.64 billion recorded in October 2017 to N150.10 billion in November 2017. Total domestic transactions increased by 113.34% from N60.18 billion to N128.39 billion within the same period.
Foreign inflows increased by 129.93% from N39.56 billion in October 2017 to N90.96 billion in November 2017. Foreign outflows also rose by 110.61% from N28.08 billion in October 2017 to N59.14 billion in November 2017.
The domestic composition of transactions on the exchange indicated that institutional composition of the domestic market increased by 158.36% from N33.00 billion recorded in October to N85.26 billion in November 2017. The retail composition also rose by 58.68% from N27.18 billion to N43.13 billion within the same period. This indicates a higher participation by institutional investors over their retail counterparts.
The statistics also showed that since 2011, foreign transactions have consistently outperformed domestic transactions.
However, domestic transactions marginally outperformed foreign transactions in 2016, accounting for 55% of the total transaction volume in 2016. Also, foreign transactions further declined by 66.34% from N1.539 trillion in 2014 to N518 billion in 2016, representing about 45% of total transactions in 2016. Over the nine (9) year period, domestic transactions have significantly decreased by 82.17% from N3.556 trillion in 2007 to N634 billion in 2016.
The aggregate value of transactions at the nation’s bourse also increased by 95.45% from N1.055 trillion entered in January 2016 to N2.062 trillion in 2017.
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Frontpage December 11, 2017