Tuesday, 6 November 2018

Foreigners Withdraw Billions From Nigeria Stock Market

Stock market: Foreign investors withdrew N94.43bn in Q3

Feyisayo Popoola. Punch Nigeria.
Foreign portfolio investors withdrew a total of N 94. 43bn from the nation ’ s stock market from July to September this year.
The Nigerian Stock Exchange , in its domestic and foreign portfolio investment report for September , said the amount withdrawn by foreign investors in the third quarter was 23. 59 per cent lower than the N 123. 59bn pulled out in the previous quarter.
The report , however , showed that foreign outflow increased by 27. 60 per cent from N 34. 31 in August to N 43. 78bn in September .
It said total foreign transactions rose by 18. 82 per cent month-on -month in September , while domestic transactions fell by 27. 03 per cent.
According to the report , total transactions at the nation ’ s bourse reduced by 2. 79 per cent from N 133. 84bn in August to N 130. 20bn in September .
The NSE said the cumulative transactions from January to September 2018 increased by 21. 23 per cent to N 2. 007tn from N 1. 655tn in the same period last year.
It said , “ Foreign investors outperformed domestic investors by 29. 54 per cent in September 2018. Total foreign transactions increased by 18. 82 per cent from N 70. 97bn in August to N 84. 33bn in September 2018.
“ Foreign outflows increased by 27. 60 per cent from N 34. 31bn to N 43. 78bn, while foreign inflows increased by 10. 58 per cent from N 36. 66bn to N 40. 54bn over the same period . ”
According to the report , the institutional composition of the domestic market increased by 14. 33 per cent from N 22. 67bn in August to N 25. 93bn in September 2018, while the retail composition reduced by 50. 38 per cent from N 40. 19bn to N 19. 94bn within the same period .
It said the results were an indication of a higher participation by the institutional investors over their retail counterparts in September .



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