Foreign Investor Transactions on Nigerian Exchange Increase by 28.19% in April

In its Domestic and Foreign Portfolio Investment Report, the Nigerian Stock Exchange (NGX) revealed that total transactions by foreign investors on the Nigerian Exchange Ltd. (NGX) rose by 28.19% between March and April.

Each month, the Exchange gathers trading figures from market operators on their Domestic and Foreign Portfolio Investment (FPI) flows. The NGX reported that the figure increased from N94.26 billion (approximately $70.83 million) in March to N120.83 billion (approximately $90.83 million) in April.

The Exchange also stated that total domestic and foreign portfolio transactions in Nigeria’s equity market reached N346.23 billion in April. However, as of April 30, 2024, the NGX noted a 35.71% decrease in total transactions at the nation’s bourse, dropping from N538.54 billion (approximately $404.69 million) in March to N346.23 billion (approximately $260.24 million) in April.

The regulator highlighted that compared to April 2023, when total transactions were N191.21 billion, April 2024 saw a significant year-on-year increase of 81.07%. Additionally, the NGX mentioned that in April, domestic investors outperformed foreign investors by roughly 30% in total transaction value.

  • ATTENTION: Techrectory gives ₦5,000 monthly to our top readers, CLICK HERE to become a winner.

“Further analysis of the transactions between March and April showed that total domestic transactions fell by 49.27%, from N444.28 billion in March to N225.40 billion in April. Moreover, institutional investors outperformed retail investors by 10%.

“A comparison of domestic transactions in March and April indicated that retail transactions decreased by 54.89%, from N223.37 billion in March to N100.77 billion in April 2024,” the NGX stated. The Exchange also reported that the institutional composition of the domestic market declined by 43.58%, from N220.91 billion in March to N124.63 billion in April.

Techrectory with Agency Report.

Techrectory on Google News


See also Just in: Appeal court fixes Friday to give judgment on Kano gov election

Leave a Reply

Your email address will not be published. Required fields are marked *

What do you think?

Written by News Desk

Your daily pulse on mind-blowing tech, business, and economy news. Stay informed, stay ahead!

Senator Abdul Ahmed Ningi Reinstated by Senate After 77-Day Suspension

Conflicting Court Orders Leave Kano Emirate in Uncertainty