Foreign inflow data shows Nigerian stocks losing lustre

Nigerian stocks saw the lowest foreign inflow in more than a year last month, even as investors dumped more equities compared to August, new data released on Tuesday shows.

Foreign inflows declined for the fourth straight month from N33.09 billion in August to N11.26 billion, the lowest since July 2023, while outflows rose from N24.38 billion to N30.15 billion, according to the Nigerian Exchange Limited (NGX).

The total value of transactions executed by domestic investors outperformed those executed by foreign investors by about 84 percent.

“Total domestic transactions increased by 40.23% from N322.05 billion in August 2024 to N451.60 billion in September 2024. However, total foreign transactions decreased by 27.95% from N57.47 billion (about $35.99 million) to N41.41 billion (about $25.86 million),” the NGX said.

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