Domestic, foreign portfolio transactions rose by N33.24bn in September, says NGX

The Nigerian Exchange Limited (NGX), on Wednesday, says the total domestic and foreign portfolio transactions in Nigeria’s equity market rose by 12.66 percent or N33.24 billion month-on-month in September.

In its domestic and foreign portfolio investment report, NGX data showed the total transactions recorded by the equity market last month rose to N295.80 billion (about $338.13 million), compared to N262.56 billion (about $338.13 million) in August.

Domestic participation accounted for N260.56 billion of the total transactions, while foreign investors contributed N35.24 billion (about $45.37 million). 

Compared to figures in August, domestic transactions increased by 15.60 percent from N225.40 billion, while foreign transactions dropped by 5.17 percent from N37.16 billion (about $47.94 million). 

This indicates domestic investors increased their market share in the equity market, from 86 percent held in August to 88 percent in September. 

Foreign investors reduced their share in the stock market transactions, from 14 percent to 12 percent in the review period.

Further breakdown of the domestic transactions showed that institutional investors recorded N148.81 billion in transactions last month, rising by 16.01 percent from N128.27 billion in August. 

Domestic retail investors raised their transactions by 15.05 percent from N97.13 billion in August to N111.75 billion in September. 

Expatiating on the transactions by foreign investors, the NGX report said that foreign outflow dropped by 7.7 percent to N21.57 billion from N23.37 billion in the review period. 

Similarly, foreign inflow in the equity market dropped, declining by 0.9 percent from N13.79 billion in August to N13.67 billion in September.