Foreign and domestic investors have transacted about N3.97 trillion, representing about 46.3 percent increase from N2.71 trillion reported in nine months of 2023.
According to the Nigerian Exchange Limited’s (NGX) Domestic & Foreign Portfolio Investment Report, out of the N3.97 trillion total transactions, foreign investors’ contribution stood at 17.56 percent, while domestic investors comprising retail and institutional rose to 82.44 percent.
Domestic investors transacted an estimated N3.27 trillion worth of transactions in the stock market in nine months of 2024, a 33.3 percent increase from N2.45 trillion transacted in nine months of 2023, the report revealed.
Analysis of domestic transaction indicated that domestic retail investors transacted N1.74trillion, an increase of 105 per cent from N849.32 billion reported in nine months of 2023, while domestic institutional total transaction dropped to N1.53 trillion in nine months of 2024 as against N1.61 trillion reported by NGX in nine months of 2023.
This nine-month figure surpasses the N3.57 trillion recorded for the whole of 2023 alone.
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From the N696.88billion total foreign investment, foreign investments’ inflow stood at N310.99 billion in the nine months of 2024, up from N108.93 billion in the first nine months of 2023, while outflow moved from N149.09 billion in the nine months of 2023 to N385.89 billion in nine months of 2024.
Analysis revealed that in the corresponding period in 2022, foreign investor transactions stood at N321.04 billion, and in 2021, it was at N287.20 billion.
On a month-on-month basis, foreign transactions recorded N41.41 billion in September 2024. The figure declined by N16.06 billion compared to N57.47 billion recorded in August.
However, domestic transactions increased to N451.60 billion in September by N129.55 billion, representing 40.23 percent uptick when compared to N322.05 billion in the previous month.
“As at 30 September 2024, total transactions at the nation’s bourse increased significantly by 29.90% from N379.52 billion (about $237.70 million) in August 2024 to N493.01 billion (about $307.84 million) in September 2024,” NGX report said.
“The performance of the current month when compared to the performance in September 2023 (N295.80 billion) revealed that total transactions increased by 66.67 percent.
Further analysis showed foreign inflow dropped to N11.26 billion in September, from N33.09 billion reported in August.
However, foreign outflow rose from N24.38 billion in September to N30.15 billion in the previous month.
“In September 2024, the total value of transactions executed by Domestic Investors outperformed transactions executed by Foreign Investors by circa 84 percent,” NGX said.
Analysis on domestic transactions showed that retail investors outperformed institutional investors by 28 percent.
“A comparison of domestic transactions in the current month and prior month (August 2024) revealed that retail transactions increased by 59.42% from N180.72 billion in August 2024 to N288.10 billion in September 2024,” the report stated.
In addition, the institutional composition of the domestic market increased from N141.33 billion (15.69 percent) in August to N163.50 billion in September.
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