Foreigners account for 17.56% as equities deal hits N3.968trn in 9 months

The value of equities traded on the Nigerian Exchange Limited (NGX) reach a record high of N3.968trillion in nine months to September 30, 2024, way higher than N2.712trillion worth of stocks traded same nine months period in 2023.

Foreigner investor accounted for N696.88 or 17.56 percent of the total value of stocks traded in the nine months to September 30, 2024 while domestic investors traded equities worth N3.271trillion or 82.44percent.

According to the recently released domestic and Foreign Portfolio Investment (FPI) report of Nigerian Exchange Limited, in the review period, foreign inflow into stocks worth N310.99billion while foreign outflow was N385.89billion.

Domestic retail investors accounted for N1.739trillion worth of stocks in nine months while domestic institutional investors traded equities worth N1.531trillion in same period.

On a monthly basis, Nigerian Exchange Limited polls trading figures from market operators on their Domestic and Foreign Portfolio Investment (FPI) flows.

As at September 30, 2024 total transactions at the nation’s bourse increased significantly month-on-month (MoM) by 29.90 percent from N379.52 billion (about $237.70 million) in August 2024 to N493.01 billion (about $307.84 million) in September6 2024.

The performance of the current month when compared to the performance in September 2023 (N295.80 billion) revealed that total

transactions increased by 66.67percent. In September 2024, the total value of transactions executed by Domestic Investors outperformed transactions executed by Foreign Investors by circa 84percent.

A further analysis of the total transactions executed between the review month and prior month (August 2024) revealed that total domestic transactions increased by 40.23percent from N322.05 billion in August 2024 to N451.60 billion in September 2024.

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However, total foreign transactions decreased by 27.95percent from N57.47 billion (about $35.99 million) to N41.41 billion (about $25.86 million) between August 2024 and September 2024.

The report further shows that retail investors outperformed institutional investors by 28percent.

A comparison of domestic transactions in the current month and prior month (August 2024) revealed that retail transactions increased by 59.42percent from N180.72 billion in August 2024 to N288.10 billion in September 2024. Also, the institutional composition of the domestic market increased by 15.69percent from N141.33 billion in August 2024 to N163.50 billion in September 2024.