Nigerian stocks suffer N117bn foreign outflows in six months
Foreign investors withdrew a total of N116.72 billion from the Nigerian stock market in the first half of this year, compared to N266.68 billion in the same period of 2020, data collated by Markets Reporters show.
Foreign investors sold the most stocks valued at N39.05 billion in February, up from N30.79 billion in January, according to data from the Nigerian Exchange Limited.
They pulled out N20.28 billion from the market in March; N9.82 billion in April; N7.28 billion in May; and N9.50 billion in June.
Foreign inflows into the country’s stock market fell to N105.24 billion in H1 2021 from N 129.95 billion in the same period a year earlier.
The NGX said total transactions at the bourse increased by 3.68 per cent from N97.19 billion (about $236.33 million) in May to N100.77 billion (about $244.88 million) in June.
It said the total value of transactions executed by domestic investors in June outperformed transactions executed by foreign investors by about 54 percent.
Total domestic transactions increased by 0.59 percent from N76.90 billion in May to N77.35 billion in June.
“Similarly, total foreign transactions increased by 15.43 percent from N20.29 billion (about $49.33 million) to N23.42 billion (about $56.91 million) between May 2021 and June 2021,” the NGX added.
