By InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) said on Monday total transactions at the domestic bourse decreased by 23.93 percent from N110.56 billion recorded in December 2015 to N84.1 billion in January 2016, shedding N26.46 billion, according to the NSE’s latest report.
In comparison with the same period in 2015, total transactions decreased by 55.67 percent from the N189.72 billion recorded in January 2015.
According to the update, domestic transactions on the Nigerian bourse in the review period dropped from N59.21 billion to N40.73 billion between December 2015 and January 2016.
“Domestic investors conceded about 3.14 percent of trading to foreign investors as domestic transactions decreased from 53.55 percent in December 2015 to 48.43 percent in January 2016 while Foreign Portfolio Investment transactions increased from 46.45 percent to 51.57 percent over the same period,” the report affirmed.
NSE says monthly foreign outflows outpaced inflows which was consistent with the same period in 2015. “However, there was a 23.17 percent decrease in foreign outflows from N34.31 billion in December 2015 to N26.36 billion in 2016. Also, foreign inflows decreased by 0.18 percent from N17.04 billion in December 2015 to N17.01billion in January 2016,” the report added.
The update noted that institutional composition of the domestic market accounted for 54 percent whilst the retail composition accounted for 46 percent in the same period, indicating more active participation by institutional investors over their retail counterparts in the period under review.
