Domestic transactions at the Lagos bourse plunged 66.68 percent to N1.18 trillion in 2018 compared with N3.56 trillion recorded in 2007, the Nigerian Stock Exchange’s Domestic & Foreign Investment Portfolio Report has showed.
Meanwhile, total transactions executed by domestic and foreign investors at the Customs Street at the end of February 2019 amounted to N188.08 billion, indicating a 54.06 percent increase over N122.08 billion reported in the previous month.
Foreign and domestic investors executed transactions worth N99.68 billion and N88.4 billion respectively, with the former outperforming the latter by 6 percent.
Analysis of the report revealed that the nation’s bourse recorded total inflows worth N89.14 billion in February, in which 54.06 percent came from domestic investors and the other 45.54 percent from foreign investors.
Total outflows from the bourse in February stood at N99.15 billion, N10.1 billion higher than total inflows. Domestic and foreign investors contributed 44.31 percent and 55.69 percent to total outflows in the review month.
Foreign inflows nearly doubled in February, as it grew 91.24 percent to N43.93 billion compared with N22.97 billion in the preceding month. Also, foreign inflows spiked 97.80 percent to N55.01 billion compared with N27.81 billion in January.
Further analysis showed that institutional investors outperformed their retail counterparts by 8 percent as they accounted for 54 percent of domestic transactions at the local bourse.
Transactions undertaken by institutional and retail investors stood by N48.13 billion and N41.01 billion respectively, indicating 88.15 percent and 38.26 percent rise over N25.58 billion and N29.66 billion reported in January 2019
Domestic transactions quadrupled foreign transactions between 2007 and 2011, with the former accounting for 80 percent of total transactions during the period.
The Exchange recorded a total transaction of N9.22 trillion between 2011 and 2015, while the share of foreign and domestic transactions stood at 57 percent & 43 percent respectively.
Between 2016 and 2018, the Lagos bourse recorded cumulative transactions worth N6.08 trillion, with 52 percent from domestic transactions and 48 percent are foreign-related.
At the close of Friday’s business, the benchmark index notched up by 83 basis points to end its six-day losing streak, and dip 0.01 percent week-on-week and 0.92 percent year-to-date.
Industrial sector (+1.72%) emerged the best performer, trailed by insurance (+1.46%) and banking (+1.37%), only oil & gas (-0.36%) ended the day’s trading in red territory.
International Breweries emerged the top-performing stock with N1.95 gain after Friday’s session. The advancers table also featured Dangote Cement, Guaranty Trust Bank, CCNN and Stanbic IBTC with N1.6, N1.35, N0.9 and N0.5 gains respectively.
The laggards table was topped by two oil firms – Total and Forte with N4 and N2.15 losses respectively.
Tier-lenders – Access, Zenith, GTB and UBA, and Sterling led the activity chart on Friday as 153.9 million shares worth N1.86 billion were transacted on Friday.
These five stocks contributed 67% and 71% to the total equity turnover volume and value respectively after the day’s trading.
