Foreign investors cut Nigerian stock purchases to four-month low

Foreign investors cut their exposure to Nigerian stocks in June, with inflows falling to the lowest level in four months.

Equities worth N38.25 billion were bought by international investors, down from N54.87 billion in the previous month, according to data from the Nigerian Exchange Limited.

Foreign outflows also dropped to N43.94 billion from N69.41 billion.

Total transactions at the nation’s bourse fell to N354.55 billion from N355.38 billion in May, with deals executed by domestic investors surpassing those by foreigners by about 54%.

Domestic investors increased their transactions by 17.85% to N272.36 billion in June, while foreign deals dropped by 33.87% to N82.19 billion.