The Nigerian Exchange Group (NGX) at the weekend reported that total value of domestic transactions on the Nigerian Exchange in March 2023 grew to N146.22 billion while foreign transactions on the stood at N53.71 billion, indicating that the domestic transactions were higher than the foreign by 88%.
The NGX in its latest report on the domestic and foreign portfolio investment report of the Exchange for the month in review, however, disclosed that the value of domestic transactions in March this year was far lower than the preceding month’s transactions.
Specifically, the capital market supervisory institution reported that in March total domestic transactions on the bourse decreased by 22.60% from N188.91 billion (about $409.72 million) in February 2023 to N146.22 billion (about $317.09 million).
An analysis of the NGX report reflected that the performance of the current month when compared to the N185.26 billion transacted in the corresponding period of last year showed a decline of 21.07%. In March 2023,
A further assessment of the total transactions executed between the current and prior month (February 2023) revealed that total domestic transactions decreased by 19.06% from N169.29 billion in February to N137.03 billion in March 2023.
Similarly, total foreign transactions decreased more significantly by 53.16% from N19.62 billion (about $42.51 million) to N9.19 billion (about $19.94 million) between February and March this year.
The NGX report also showed that Institutional Investors outperformed Retail Investors by 22% just as a comparison of domestic transactions in the current and preceding month reflected that retail transactions increased by 51.85% from N34.79 billion in February to N52.83 billion in March 2023.
However, the institutional composition of the domestic market significantly dropped by 37.40% from N134.50 billion in February 2023 to N84.20 billion in March 2023.
The Domestic and Foreign Portfolio Investment Report, comprising trading figures from market operators on their domestic and Foreign Portfolio Investment (FPI) flows, is prepared monthly by NGX Regulation Limited.
