The Nigerian Stock Exchange (NSE) has disclosed that foreign and domestic investors’ equity transactions between January and November 2017 increased by 95.45 per cent to N2.062 trillion from N1.055 trillion reported in 2016.
The Stock market in 2017 thus gained N4.36 trillion to close at N13.61 trillion in market capitalisation from N9.246 trillion it opened while NSE All-Share Index added 42.30 per cent to close at 38,243.19 index points.
The Exchange in its November polls trading figures from major custodians and market operators on their Foreign Portfolio Investment (FPI) flows, said total transactions in November increased significantly by 117.88 per cent from N127.82 billion recorded in October 2017 to N278.49 billion in November 2017.
The report by NSE said, foreign investors outperformed domestic investors by 7.8 per cent in November.
The report said, “Total foreign transactions increased significantly by 121.91 per cent from N67.64 billion recorded in October 2017 to N150.10 billion in November 2017.
“Total domestic transactions increased by 113.34per cent from N60.18 billion to N128.39 billion within the same period.
“Foreign inflows increased by 129.93per cent from N39.56 billion in October 2017 to N90.96 billion in November 2017.
“Foreign outflows also increased by 110.61per cent from N28.08 billion in October 2017 to N59.14 billion in November 2017.”
Analysts attributed increased foreign investors participation to the positive trend on the improvement of macro economy in terms of the stability of the foreign exchange market and steady increase in global oil prices.
According to recent reports by analysts at FSDH, the recovery seems to be coming on the back of the recent increase in crude oil price, the increase in crude oil production in Nigeria and the Central Bank of Nigeria’s (CBN) continued supply of foreign exchange to both retail and corporate users.