February 29, 2024/NGX
Summary of Transactions as at 31 January 2024
On a monthly basis, Nigerian Exchange Limited polls trading figures from market operators on their Domestic and Foreign Portfolio Investment (FPI) flows. As at 31 January 2024, total transactions at the nation’s bourse increased by 89.45% from N343.90billion (about $382.59million) in December 2023 to N651.52billion (about $479.99million) in January 2024. The performance of the current month when compared to the performance in January 2023 (N195.10 billion) revealed that total transactions increased significantly by 233.94%. In January 2024, the total value of transactions executed by Domestic Investors outperformed transactions executed by Foreign Investors by circa 84% as shown in figure 1 below.
Analysis of Domestic and Foreign Transactions for the Month (January ‘24)
Further analysis of the total transactions executed between the current and prior month (December 2023) revealed that total domestic transactions increased by 102.15% from N296.03 billion in December to N598.41 billion in January 2024. Total foreign transactions also increased by 10.95% from N47.87 billion (about $ 53.26 million) to N53.11 billion (about $ 39.13 million) between December 2023 and January 2024.
Analysis of Domestic Transactions
Figure 4 below shows that Institutional Investors outperformed Retail Investors by 4%. A comparison of domestic transactions in the current and prior month (December 2023) revealed that retail transactions increased by 211.73% from N91.61 billion in December to N285.58 billion in January 2024. Similarly, the institutional composition of the domestic market increased by 53.03% from N204.42 billion in December 2023 to N312.83 billion in January 2024.
Historical Analysis of Domestic and Foreign Transactions
The data in figure 7 below highlights the performance of the market over the last decade. Over a sixteen (16) year period, domestic transactions decreased by 10.94% from N3.556trillion in 2007 to N3.167trillion in 2023 whilst foreign transactions also decreased by 33.28% from N616billion to N411billion over the same period.
Total domestic transactions accounted for about 89% of the total transactions carried out in 2023, whilst foreign transactions accounted for about 11% of the total transactions in the same period.
The transaction data for 2024 shows that total domestic transactions are circa N598.41billion, whilst total foreign transactions are circa N53.11billion.
