NGX: N3.96trn recorded in domestic, foreign transactions in nine months

The Nigerian Exchange Limited (NGX) says N3.96 trillion was recorded from both domestic and foreign transactions between January and September 2024.

The figure surpasses the N3.57 trillion recorded for the whole of 2023 alone.

In its ‘Domestic & Foreign Portfolio Investment Report’ on Tuesday, NGX said while N696.88 billion worth of foreign transactions were recorded, N3.27 trillion was recorded as domestic transactions. 

On a month-on-month basis, NGX said foreign transactions recorded N41.41 billion in September 2024.

The bourse said the figure declined by N16.06 billion compared to N57.47 billion recorded in August.

However, domestic transactions increased to N451.60 billion in September – up by N129.55 billion (40.23 percent), compared to N322.05 billion in the previous month.

The company said the total equity transactions in September 2024 was N493.01 billion.

“As at 30 September 2024, total transactions at the nation’s bourse increased significantly by 29.90% from N379.52 billion (about $237.70 million) in August 2024 to N493.01 billion (about $307.84 million) in September 2024,” NGX said.

“The performance of the current month when compared to the performance in September 2023 (N295.80 billion) revealed that total transactions increased by 66.67%.”

Further analysis showed foreign inflow dropped to N11.26 billion in September, from N33.09 billion reported in August.

However, foreign outflow rose from N24.38 billion in September to N30.15 billion in the previous month.

“In September 2024, the total value of transactions executed by Domestic Investors outperformed transactions executed by Foreign Investors by circa 84%,” NGX said.

The bourse also said domestic investors’ participation was 92 percent in September 2024, while foreign investors accounted for 8 percent.

Analysis by NGX on domestic transactions showed that retail investors outperformed institutional investors by 28 percent.

“A comparison of domestic transactions in the current month and prior month (August 2024) revealed that retail transactions increased by 59.42% from N180.72 billion in August 2024 to N288.10 billion in September 2024,” NGX added.

In addition, NGX said the institutional composition of the domestic market increased from N141.33 billion (15.69 percent) in August to N163.50 billion in September.