Foreign Portfolio Investors Withdraw Billions From Nigeria's Stock Market
Fifty-five billion naira. That is the value of stocks foreign investors pulled from the Nigerian stock market in February of this year alone.
According to the Nigerian Stock Exchange, NSE this is as a result of foreign outflows from the stock market increasing by 97.8% from 27.81 billion naira in January 2019 to 55.01 billion naira in February.
In its latest foreign portfolio investment report, the NSE added that foreign inflows increased by 91.24% from 22.97 billion naira to 43.93 billion naira between January and February.
In February 2019, the total value of transactions executed by foreign investors outperformed those executed by domestic investors by 6%.
A further analysis of the transactions executed between January and February revealed that total foreign transactions increased by 48% from 66.85 billion naira in January to 98.94 billion naira in February.
The value of the total transactions executed in the domestic market by institutional investors outperformed retail investors by 8%.
As of February 28, total transactions at the nation’s bourse increased by 54.06% from 122.08 billion naira recorded in January to 188.08 billion naira (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%.
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