By Chinwendu Obienyi
The total value of domestic transactions on the floor of the Nigerian Stock Exchange (NSE) in the last 10 months of 2020 currently stands at N989.10 billion as against foreign transactions at N591.97 billion.
According to data obtained from the NSE’s website, the total value of domestic transactions outperformed that of foreign investors by N397.13 billion or 66.41 per cent whereas total transactions at the nation’s bourse increased by 81.45 per cent from N134.97 billion in September 2020 to N244.90 billion in October 2020.
The performance in 2020 compared to that of October 2019 (N163.16 billion) revealed that total transactions increased by 50.10 per cent while the total value of transactions executed by domestic investors outperformed transactions by foreign investors by 34 per cent.
A further analysis of total transaction done between the current and prior month (September 2020) revealed that total domestic transactions increased by 71.91 per cent from N94.92 billion in September to N163.18 billion in October 2020.
Total foreign transactions also increased by 104.04 per cent from N40.05 billion (about $103.81 million) to N81.72 billion (about $211.75 million) between September and October 2020 while Institutional investors outperformed retail investors by 14 per cent.
A comparison of domestic transactions in the current and prior month (September 2020) revealed that retail transactions rose by 95.97 per cent from N35.69 billion in September 2020 to N69.94 billion in October 2020, while institutional composition of the domestic market increased by 57.42 per cent from N59.23 billion in September 2020 to N93.24 billion in October 2020.
Meanwhile, price appreciation in the shares of Airtel Africa and BUA Cement led to a gain of 2.40 per cent as transactions on the NSE sustained its bullish run on Wednesday.
Similarly, market capitalisation rose by N476 billion to close yesterday’s trading session at N20.281 trillion from an opening value of N19.805 trillion. Furthermore, the volume of stocks traded stood at 1.49 trillion units while the value of stocks traded stood at N18.74 billion in 4,316 deals.
Meanwhile the Debt Management Office (DMO) says a total of N60 billion worth of bond it offered in the month of December was oversubscribed by more than N70 billion. The explantion is contained in a statement obtained from DMO’s website on Wednesday.
“The Debt Management Office offered a total of N60 Billion at the FGN Bond Auction of December 2020, which was held on December 16, 2020. The offer was oversubscribed as total bids received were N134.056 billion, a subscription level of over 220 per cent.