The Nigerian Exchange Limited (NGX) has stated that the total domestic and foreign portfolio transactions in Nigeria’s equity market amounted to N355.38 billion in May 2024.
This was revealed in the latest Domestic and Foreign Portfolio Investment report. Monthly, NGX polls trading figures from market operators on their Domestic and Foreign Portfolio Investment (FPI) flows.
The total volume of transactions at the nation’s bourse increased by 2.63 percent from N346.23 billion (about $224.78 million) in April 2024 to N355.38 billion (about $230,73 million) in May 2024.
In comparison to May 2023, which recorded N322.92 billion, total domestic and foreign portfolio transactions increased by 10 percent in May 2024.
Read also: Nigerian payments report 2024: Online transfers dominate, ATM transactions decline
In May 2024, Domestic Investors with a total transaction of N231.10 billion outpaced Foreign Investors’ transactions of N124.28 billion by 85.9 percent.
However, total domestic transactions increased by 2.52 per cent from N225.40 billion in April to N231.10 billion in May 2024.
Total foreign transactions increased by 2.85 per cent from N120.83 billion (about $78.45 million) to N124.28 billion (about $80.69 million) between April 2024 and May 2024.
Also, Institutional Investors with a total volume of transactions of N117.57 billion outperformed Retail Investors with a total volume of transactions of N113.53 billion by 3.56 per cent.
The institutional composition of the domestic market decreased by 5.66 percent from N124.63 billion in April 2024 to N117.57 billion in May 2024.
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