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Investors pull out N339.06bn from stock market in Q1

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Foreign and domestic investors withdrew a total of N339.06bn from the Nigerian stock market in the first three months of this year,

Nigerian Exchange Limited’s latest report showed that foreign portfolio investors sold Nigerian stocks worth N90.12bn in the first quarter while domestic investors withdrew N248.94bn from the market.

The report noted that the foreign investors withdrew N30.79bn in January; N39.05bn in February, and N20.28bn in March, while the domestic investors pulled out N86.35bn in January; N69.28bn in February, and N93.31bn in March.

Techeconomy.ng gathered that the total transactions at the nation’s stock market increased by 5.99 per cent from N215.58bn (about $525.21m) in February 2021 to N228.49bn (about $560.55m) in March.

When compared to the performance in March 2020 (N242.91bn), the organisation said the total transactions decreased by 5.94 percent in March 2021.

The total value of transactions executed by domestic investors in March outperformed transactions executed by foreign investors by about 64 percent.

This medium also learnt that more analysis of the total transactions executed revealed that total domestic transactions increased by 22.37 per cent from N153.51bn in February to N187.85bn in March 2021.

Total foreign transactions, however, decreased by 34.53 per cent from N62.07bn in February (about $151.23m) to N40.64bn (about $99.70m) in March.

The NGX said:  “Retail investors outperformed institutional investors by 16 per cent. A comparison of domestic transactions in the current and prior month (February 2021) revealed that retail transactions increased by 101.77 per cent from N53.80bn in February 2021 to N108.55bn in March 2021.

 “However, the institutional composition of the domestic market decreased by 20.47 per cent from N99.71bn in February 2021 to N79.30bn in March 2021.”

The NGX noted that total domestic transactions accounted for about 74 per cent of the total transactions carried out in 2020, while foreign transactions accounted for about 26 per cent of the total transactions in the same period.

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The transaction data for 2021 showed that total foreign transactions were about N150.23bn, while total domestic transactions were about N526.30bn.

 

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  1. Pingback: Investors Pull Out N339.06bn From Stock Market In Q1 | Techvalley

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