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By Chukwuma Umeorah
Total transactions at the nation’s bourse decreased by 35.71 per cent from N538.54 billion in March 2024 to N346.23 billion in April 2024.
According to the latest Domestic and Foreign Portfolio Investment Report from the Nigerian Exchange Limited (NGX) which tracks investment flows from market operators, the month-on-month decrease highlights a substantial drop in trading activities.
Despite the decline from March to April 2024, total transactions saw a significant year-on-year increase of 81.07 per cent compared to N191.21 billion in April 2023.
The data also also revealed that the domestic investors outperformed foreign investors by an estimated 30 per cent.
Analyzing the changes between March and April 2024, domestic transactions decreased by 49.27 per cent from N444.28 billion in March to N225.40 billion in April. In contrast, foreign transactions rose by 28.19 per cent from N94.26 billion to N120.83 billion.
Also, Institutional Investors outperformed Retail Investors by 10 per cent. A comparison of domestic transactions in the current and prior month (March 2024) revealed that retail transactions decreased by 54.89 per cent from N223.37 billion in March to N100.77 billion in April 2024. Similarly, the institutional composition of the domestic market decreased by 43.58 per cent from N220.91 billion in March 2024 to N124.63 billion in April 2024.
