Business

Nigerian Stock Market Sees Surge In Foreign Transactions

The Nigerian Exchange Limited (NGX) has reported a significant increase in foreign transactions in the first half of 2024, with N540.48 billion worth of foreign transactions recorded between January and June.

This represents a substantial rise compared to N145.08 billion reported in the same period last year.

According to the NGX’s ‘Domestic & Foreign Portfolio Investment’ report, foreign investors liquidated more portfolio investments than they purchased during the six-month period, with N311.41 billion worth of portfolio investments liquidated compared to a foreign outflow of N73.06 billion in the corresponding period in 2023.

However, foreign investment inflow accounted for N229.07 billion in H1 2024, against N72.02 billion reported in the same period last year.

“The performance of the current month when compared to the performance in June 2023 revealed that total transactions decreased by 12.83%,” the report reads.

NGX also noted that domestic investors accounted for 79.25% of 2024 H1 transactions, compared to 90% reported in the corresponding period last year, while foreign transactions accounted for 20.75% of the total transactions in H1 2024, compared to 10% in H1 2023.

Commenting on the market’s performance, NGX said: “Over a seventeen (17) year period, domestic transactions decreased by 10.94% from N3.556 trillion in 2007 to N3.167 trillion in 2023; whilst foreign transactions also decreased by 33.28% from N616 billion to N411 billion over the same period.”

The report also highlighted that domestic institutional investors outperformed retail investors by 16% on a month-on-month basis, with retail transactions increasing by 0.43% from N113.53 billion to N114.02 billion between May and June 2024.

Boluwatife Enome

Source: the cable

Follow us on:

AriseNews

View Comments

  • O8O__6739__9O9O✅Very Sharp Super Clean Direct Tokumbo
    ✅CONDITION; Super Clean, Strictly Buy And Drive, Nothing To Fix.
    nationwide action sales Toyota 4Runner: #900,000
    Toyota Avalon: #800,000
    Toyota Camry: #550,000
    TOYOTA TUNDRA = 2. MILLION
    TOYOTA CAMRY SPIDER =1m900,000
    TOYOTA CAMRY MUZZLE =1m800,000
    Toyota Corolla: #500,000
    Toyota FJ Cruiser: #800,000
    Toyota Highlander: #1m300,000
    Toyota Land Cruiser-N1.5 million
    TOYOTA HIACE BUS = 3.5 MILLION
    TOYOTA CAMRY TINY LIGHT = 450,000
    TOYOTA AVENSIS =1m650,000
    Toyota Prado N1m650,000
    Toyota Matrix: #650,000
    Toyota hilux: #1m650,000
    Dyna Truck – N1.3million
    Nissan part finder: #850,000
    Nissan Murano: #850,000
    Honda Accord: 550,000
    ACURA ZDX=2.3 MILLION
    ACURA MDX = 1.6 MILLION
    Lexus Rx300,330,350,950,1m350: 2m000,000
    Latest Model Toyota Prado N1m650, 000
    Latest Model Toyota Rav4 N900,000
    Latest Model Toyota Sienna#600 N800,000
    Latest Model Toyota Venza N1m800,000
    Latest Model Toyota Yaris N800,000
    TOYOTA COROLLA SPORT= 900,000
    Volkswagen Golf 3 N300,000
    Volkswagen Golf 4 N500,000
    Volkswagen Jetta N900,000
    Volkswagen Beetle N800, 00
    Volkswagen Passat N900,000
    Mazda MPV N950,000
    Mazda 626 N850.000
    Mazda Tribute N400.000
    Mercedes-Benz C-Class N1m700.000
    Mercedes-Benz E-Class N1m650.000
    Mercedes-Benz GLK N3m750.000
    Mercedes-Benz ML320 N1m800.000
    Mercedes-Benz ML350 N1m900.000
    Mercedes - Benz G-Wagon N5m,200000 and Others
    Mercedes Benz Not Included On List ...
    Mistibushi N600,000
    Nissan Primera N980,000
    Nissan Sentra N950,000
    Nissan Sunny N950,000
    Nissan Armanda N850.000
    Nissan Xterra N900,000
    Nissan Quest N800,000
    Peugeot 206 N700.000
    Peugeot 406 N850,000
    Peugeot 607 N870,000
    Peugeot 407 N950,000
    Call the Marketing officer Compt. on WE DELIVER TO ANY STATE IN NIGERIA PER BAG IS N2000 FOR DELIVERY. Thank you!(( 08O67399O90) (+234_80__6739-9090))
    !!!Please Take Note!!!
    #50kg Bags Of Rice And There Prices Below.
    Royal Stallion=N19,500
    MamaGold=N18,000
    Otunba=N19,000
    Rising sun=N19,500
    Special rice=N18,000
    Mama Africa=N19,000
    Royal crown=N18,500
    Ade Brazil=N19,000
    Elephant Gold=N18,500
    Super eagle=N19,000
    Tomato rice=N18,500
    Caprice =N18,500WE DELIVER TO ANY STATE IN NIGERIA PER BAG IS N2000 FOR DELIVERY. Thank you!!

Recent Posts

Romania Set To Form New Government With Marcel Ciolacu As Prime Minister

Romania's president Klaus Iohannis is expected to designate Prime Minister Marcel Ciolacu to form a…

31 minutes ago

Nigeria Announces Public Holidays for Christmas and New Year Celebrations

Federal Government of Nigeria has declared public holidays to mark Christmas and New Year festivities…

36 minutes ago

IGP Orders Investigation into Death of Ilorin Detainee Jimoh Abdulquadri in Police Custody

IGP Egbetokun has ordered an investigation into Jimoh Abdulquadri’s death in police custody, promising justice…

4 hours ago

Trump Dismisses Claims That Elon Musk Holds Real Power Behind US President-Elect

Donald Trump has rejected suggestions that Elon Musk is the true influence behind the newly…

4 hours ago

Tiger Woods’ 15-Year-Old Son Charlie Achieves His First Hole-in-One

Tiger Woods' son Charlie has achieved his first golf hole-in-one during the final round of…

4 hours ago

New Zealand Rejects Cook Islands’ Bid For A Separate Passport

New Zealand has rejected the Cook Islands’ proposal for a separate passport, requiring full independence…

4 hours ago