Domestic Transactions Rise To 64% In February

Domestic investors significantly outperformed foreign investors by 27.04 per cent as domestic transactions increased from 48.43 per cent in January 2016 to 63.52 per cent in February 2016 while Foreign Portfolio Investment (FBI) transactions decreased from 51.57 per cent to 36.48 per cent over the same period.

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 (about $0.60 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.

On a monthly basis, the Nigerian Stock Exchange polls trading figures from major custodians and market operators on their FPI. According to reports from the NSE, monthly foreign outflows outpaced inflows, which was consistent with the same period in 2015.

However, foreign outflows increased by 20.79 per cent from N26.36 billion in January 2016 to N31.84 billion while foreign inflows decreased by 35.68 per cent from N17.01 billion in January 2016 to N10.94 billion in February 2016. Highlights of the domestic composition of transactions on the Exchange between January and February 2016 showed that the total domestic transaction increased by 82.89 per cent from January to February 2016.

The institutional composition of the domestic market increased by 75.05 per cent from N21.85 billion in January to N38.25 billion in February while the retail composition increased by 91.95 per cent from N18.88 billion in January to N36.24 billion in February 2016.