Investors trade equities worth N2.154trn in 7 months

Investors (both foreign and domestic) traded N2.154trillion worth of Nigerian equities in seven months to July 2023. The record level of equities traded on the Nigerian Bourse in the review seven month to July represents a remarkable increase when compared to N1.763trillion recorded same period in 2022.

Foreigners traded N185.62billion worth of stocks, representing 8.62percent, while domestic investors traded equities valued at N1.968trillion in the same seven months period, representing 91.38percent of the total value traded, according to summary of equities transactions as at seven months to July 31.

Foreign inflow into equities worth N81.47billion while outflow from the market was N104.15billion. Domestic retail investors traded stocks worth N640.44billion in seven months while domestic institutional investors accounted for N1.328trillion worth of equities in same period under review.
In July, stocks worth N702.98 billion were traded, it is the highest since this year. For instance, in June investors exchanged N702.98billion worth of stocks, May (N322.92billion), April (N191.21billion), March (N146.22billion), February (N188.91billion), while in January, investors traded N195.10billion worth of Nigerian equities.

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The performance of the month of July when compared to the performance in July 2022 (N101.18billion) revealed that total transactions increased by 594.78percent.

In July 2023, the total value of transactions executed by domestic investors outperformed transactions executed by foreign investors by about 88percent.

Looking at the total transactions executed between the review month and prior month (June 2023) revealed that total domestic transactions increased by 83.50percent from N361.01billion in June to N662.44billion in July 2023.

However, total foreign transactions decreased marginally by 11.37percent from N45.74billion (about $60.49million) to N40.54billion (about $52.58million) between June 2023 and July 2023.

Institutional investors outperformed retail investors by 30percent. A comparison of domestic transactions in the current and prior month (June 2023) revealed that retail transactions increased by 84.67percent, from N124.52billion in June to N229.95billion in July 2023. The institutional composition of the domestic market increased by 82.88percent from N236.49billion in June 2023 to N432.49billion in July 2023.