Many analysts attributed the
foreign investors’ actions to unfavourable condition of foreign exchange
currency. Foreign investors who used to dominate trading in the Nigerian stock
market transacted 51.57 per cent of total market activities in January 2016,
down to 36.48 per cent at the end of February trading.
According to the Nigerian Stock
Exchange polls trading figures from major custodians and market operators on
their Foreign Portfolio Investment (FPI) flows for the month of February,
foreign investors withdrew N31.84 billion during the month against N10.94 billion
invested in Nigeria market.
The percentage of transactions of
foreign investors in February was 36.48 per cent compared to 74.49 per cent of
domestic investors.
Total transaction on the bourse
during the month stood at N117.27 billion as against N184.49 billion total
transaction carried out in January.
However, domestic investors
transacted N74.49 billion in February as institutional investors led with
N38.25 billion while domestic investors transacted N36.24 billion. This is
higher than N40.73 billion total transactions of domestic investors in January
2016 as retail investors transacted N18.88 billion as against N21.85 billion of
institutional investors in January.
Meanwhile, total transactions at
the nation’s bourse increased by 39.44 per cent from N84.10 billion recorded in
January 2016 to N117.27 billion in February 2016. In comparison to the same
period in 2015, total transactions decreased by 36.44 per cent from the N184.49
billion recorded in February 2015. Domestic investors significantly outperformed
foreign investors by 27.04 per cent.
Domestic transactions increased
from 48.43 per cent in January 2016 to 63.52 per cent in February 2016 while
FPI transactions decreased from 51.57 per cent to 36.48 per cent over the same
period.
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