Between March and April, the total number of transactions by foreign investors on the Nigerian Exchange Ltd. (NGX) increased by 28.19 per cent.

The NGX revealed this in its Domestic and Foreign Portfolio Investment Report.

On a monthly basis, the exchange polls trading figures from market operators on their domestic and foreign portfolio investment flows.

NGX said that the figure rose from N94.26 billion, about $70.83 million, in March to N120.83 billion, about $90.83 million, in April.

The exchange stated that Nigeria’s equity market’s total domestic and foreign portfolio transactions amounted to N346.23 billion in April.

However, as of April 30, 2024, the NGX said the total transactions at the nation’s bourse decreased by 35.71 per cent.

The figure dropped from N538.54 billion, about $4 million in March, to N346.23 billion, about $260.24 million in April.

The regulator said the performance in April of the current year, when compared to April 2023, when it stood at N191.21 billion, revealed that the total transactions increased significantly by 81.07 per cent year-on-year.

NGX mentioned that in April, the total value of transactions executed by domestic investors outperformed foreign investors by approximately 30 per cent.

“A further analysis of the total transactions executed between March and April revealed that total domestic transactions decreased by 49.27 per cent from N444.28 billion in March to N225.40 billion in April.

“Also, institutional investors outperformed retail investors by 10 per cent. A comparison of domestic transactions in March and April revealed that retail transactions decreased by 54.89 per cent from N223.37 billion in March to N100.77 billion in April 2024,” it said.

According to the exchange, the institutional composition of the domestic market decreased by 43.58 per cent from N220.91 billion in March to N124.63 billion in April.

(NAN)