Nigerian stock market suffers N219bn foreign outflows in 4 months

Foreign investors pulled out a total of N218.80 billion from the Nigerian stock market in the first four months of this year, compared to N166.02 billion in the same period a year ago.

The latest data obtained by Markets Reporters from the Nigerian Stock Exchange showed that foreign outflow dropped to N32.20 billion in April from N87.73 billion in the previous month.

The foreign investors withdrew N52.37 billion in February, up from N46.50 billion in January.

Total transactions at the nation’s bourse decreased by 47.03 percent from N242.91 billion (about $630.04 million) in March to N128.67billion (about $332.22million) in April.

The total value of transactions executed by domestic investors outperformed transactions executed by foreign investors by about 18 per cent, the NSE data showed.

Total domestic transactions decreased by 43.11 percent from N132.69 billion in March to N75.49 billion in April.

The NSE said total foreign transactions decreased by 51.75 percent from N110.22 billion (about $285.89 million) in March to N53.18 billion (about $137.31 million) in April.

It said, “The value of domestic transactions executed by retail investors outperformed institutional investors by eight percent. Retail transactions decreased by 32.89 per cent from N60.23 billion in March to N40.42 billion in April.

“Similarly, the institutional composition of the domestic market decreased by 51.60 percent from N72.46 billion in March to N35.07 billion in April.”