Foreign portfolio investors have finally staged a comeback into the Nigerian capital markets going by latest data.
On a year on year basis, foreign portfolio investment into Nigeria’s premier bourse, the Nigerian Stock Exchange rose by 59.81% from N269.22 billion to N430.23, whilst the total domestic transactions increased by 42.19% from N505.03 billion to N355.19 billion.
Total transactions at the nation’s bourse increased by 7.13% from N205.61billion recorded in May 2017 to N220.27billion (about $0.72 billion) in June 2017. Also, total transactions for the first half of the year increased by 49.78% from N624.41 billion recorded in 2016 to N935.26 billion in 2017.
Domestic investors outperformed foreign investors by 7.82%. Total domestic transactions increased by 7.53% from N110.42 billion recorded in May 2017 to N118.74 billion in June 2017. Foreign transactions also increased by 6.66% from N95.19 billion to N101.53 billion within the same period.
Monthly foreign inflows outpaced outflows. However, foreign inflows decreased by 10.95% from N73.15 billion in May 2017 to N65.93 billion in June 2017 while foreign outflows increased by 38.09% from N22.04 billion in May 2017 to N35.60 billion in June 2017.