In the first half of 2023, the total amount of international transactions carried out by investors on the floor of the Nigerian Exchange Limited increased to N145.08 billion.
Nairametrics reported that this is according to the recently disclosed data on domestic and foreign portfolio investment reports in Nigerian equity trading for June 2023.
The total foreign transactions in the first four months of 2023 were N62.18 billion due to rising inflation, persistent FX scarcity, and unpredictability surrounding the 2023 elections.
Nevertheless, the report, which is produced each month by NGX Regulation Limited using trading data from market participants on their domestic and foreign portfolio investment flows, showed that at the end of the reviewed period, total domestic transactions on the Exchange stood at N1.306 trillion, while total foreign transactions stood at N145.08 billion.
The study also showed that the overall volume of transactions at the country’s stock exchange climbed by 25.96% from N322.92 billion (or $693.99 million) in May 2023 to N406.75 billion (or $537.87 million) in June 2023.
Total transactions grew by 159.87% in the current month compared to June 2022 (N156.52 billion), according to performance data.
Additionally, domestic investors beat international investors in terms of the total value of transactions by 78%. While overseas inflows and outflows totaled N22.72 billion and N23.02 billion, respectively, domestic inflows and outflows totaled N180.91 billion and N180.11 billion.
The total domestic transactions climbed by 26.34% from N285.76 billion in May to N361.01 billion in June 2023, according to further examination of the total transactions carried out between the current and previous month (May 2023) figures.
Similar to this, between May 2023 and June 2023, total foreign transactions climbed dramatically by 23.09%, from N37.16 billion (about $79.88 million) to N45.74 billion (around $60.49 million).
Also, the domestic market’s institutional composition slightly grew (19.89%) from N197.26 billion in May 2023 to N236.49 billion in June 2023.
Domestic transactions fell by 45.30% over the course of 16 years, from N3.556 trillion in 2007 to N1.945 trillion in 2022, while foreign transactions likewise fell by 38.47%, from N616 billion to N379 billion.
In 2022, total domestic transactions made up approximately 84% of all transactions, while overseas transactions made up approximately 16% of all transactions.
