By Chinwendu Obienyi
The total domestic transactions on the Lagos floor of the Nigerian Stock Exchange (NSE) were up by 53.51 per cent from N163.18 billion in October to N250.50 billion in November 2020.
In the same vein, the total transactions at the bourse increased by 29.77 per cent from N244.90billion (about $634.55 million) in October 2020 to N317.81 billion (about $813.87million) in November 2020.
According to the NSE’s Domestic/ Foreign Portfolio Investment Report released yesterday, the performance of the current month, when compared with the performance in November 2019 (N172.52billion) revealed that total transactions increased by 84.22 per cent, while the total value of transactions executed by domestic investors outperformed transactions executed by foreign investors by 58 per cent for the month of November 2020. The report stated that the total transactions executed between the current and prior month (October 2020) revealed that total domestic transactions increased by 53.51 per cent from N163.18 billion in October to N250.50 billion in November 2020, while total foreign transactions, however, decreased by 17.63 per cent from N81.72 billion (about $211.75 million) to N67.31 billion (about $172.38 million) between October and November 2020.
Further analysis of the report showed that domestic participation continued to take the centre stage, beating off competition from foreign participation by 79 per cent as against 21 per cent, while domestic inflow grew by N135.96 billion as against foreign inflow (N25.54 billion).
For the month under review, institutional investors outperformed retail investors by 16 per cent, while a comparison of domestic transactions in the current and prior month (October 2020) revealed that retail transactions increased by 52.10 per cent from N69.94billion in October 2020 to N106.38billion in November 2020.
“Whilst the institutional composition of the domestic market increased by 54.57fromN93.24billion in October 2020 to N144.12billionin November 2020. The actual performance shows that total foreign transactions carried out year till date (YTD) stands at N659.28billion while total domestic transactions YTD is about N1239.62 billion”, the report stated.