The Nigerian Stock Exchange has announced that foreign outflows from the stock market increased by 97.8 percent from N27.81bn in January 2019 to N55.01bn in February.
The Nigerian Stock Exchange, in its latest foreign portfolio investment report, further added that foreign inflows increased by 91.24 per cent from N22.97bn to N43.93bn between January and February.
In February 2019, the total value of transactions executed by foreign investors outperformed those executed by domestic investors by six per cent.
A further analysis of the transactions executed between January and February revealed that total foreign transactions increased by 48 per cent from N66.85bn in January to N98.94bn in February.
The value of the total transactions executed in the domestic market by institutional investors outperformed retail investors by eight per cent.
As of February 28, total transactions at the nation’s bourse increased by 54.06 per cent from N122.08bn recorded in January to N188.08bn (about $613.9m) in February.
The performance in February, when compared to the performance of the same period in the previous year, revealed that total transactions reduced by 11.3 per cent.
These total transactions were executed by domestic and foreign investors. Domestic investors were further categorised into retail and institutional investors.
Total retail transactions increased by 38.26 per cent from N29.66bn in January 2019 to N41.01bn in February. The institutional composition of the domestic market also increased significantly by 88.15 per cent from N25.58bn in January to N48.13bn in February 2019, indicating a higher participation by institutional investors over their retail counterparts in February.
Foreign transactions, which stood at N1.539tn in 2014, declined to N1.219tn in 2018. Over a 12-year period, domestic transactions decreased by 66.68 per cent from N3.556tn in 2007 to N1.185tn in 2018.
Total foreign transactions accounted for about 51 per cent of the total transactions carried out in 2018, while domestic transactions accounted for about 49 per cent of the total transactions in the same period.