Foreign investors dump Nigerian stocks worth N39bn in Feb

Foreign investors offloaded Nigerian stocks worth N39.05 billion in February, compared with N30.79 billion withdrawn in the previous month.

Total transactions at the Nigerian Stock Exchange decreased by 7.26 percent from N232.46 billion (about $590.82 million) in January 2021 to N215.58 billion (about $525.21million) in February, according to the latest data obtained by Markets Reporters.

“In February 2021, the total value of transactions executed by domestic investors outperformed transactions executed by foreign investors by circa 42 percent,” the NSE said on Tuesday.

It said total domestic transactions decreased by 16.99 percent from N184.94 billion in January to N153.51 billion in February.

“However, total foreign transactions increased by 30.62 percent from N47.52 billion (about $120.78 million) to N62.07 billion (about $151.23 million) between January 2021 and February 2021,” the NSE added.

Retail transactions decreased by 20.23 percent from N67.44 billion in January to N53.80 billion in February, the bourse said.

It said the institutional composition of the domestic market also decreased by 15.14 percent from N117.50 billion in January to N99.71 billion in February.