NGX: N3.57trn recorded in domestic, foreign transactions in 2023

The Nigerian Exchange Limited (NGX) says the country recorded over N3 trillion in domestic transactions and N410 billion in trades from foreign investors in 2023.

NGX disclosed this on Wednesday in its latest report showing trading figures from market operators on their domestic and foreign portfolio investments.

The NGX recorded a total transaction of N3.57 trillion from both domestic and foreign transactions.

According to the report, domestic investors accounted for 88.52 percent or N3.167 trillion in last year’s transactions compared to N83.68 percent or N1.94 trillion recorded in 2022.

For foreign transactions, NGX said it recorded N410 billion or accounted for 11.48 percent of the transactions in 2023 as against N379.22 billion or 16.32 percent in 2022.

“As at 31 December 2023, total transactions at the nation’s bourse increased by 14.38% from N300.67 billion (about $319.15million) on November 5 2023 to N343.90 billion (about $382.59million) on December 6 2023,” NGX said.

“The performance of the current month (December 2023) when compared to the performance in December 2022 (N140.70 billion) revealed that total transactions increased by 144.42%. 

“In December 2023, the total value of transactions executed by domestic investors outperformed transactions executed by foreign investors by circa 72%.”

Meanwhile, in the report, NGX said the figure recorded in the year under review is a pick-up to the record it had in 2007.

“Over a sixteen (16) year period, domestic transactions decreased by 10.94% from N3.556 trillion in 2007 to N3.167 trillion in 2023 whilst foreign transactions also decreased by 33.28% from N616 billion to N411 billion over the same period,” NGX said.

“Total domestic transactions accounted for about 89% of the total transactions carried out in 2023, whilst foreign transactions accounted for about 11% of the total transactions in the same period.

“The transaction data for 2023 shows that total domestic transactions are circa N3.167 trillion, whilst total foreign transactions are circa N410.62 billion.”

Giving further analysis on domestic investment for December 2023, NGX said institutional investors outperformed retail investors by 38 percent.

The firm added that institutional investors’ transactions were about 69 percent while retail investment took 39 percent.