The Nigerian Exchange Limited (NGX) has reported total transactions amounting to N3.48 trillion between January and August 2024. According to the NGX domestic and foreign portfolio investment report for August, released on Wednesday, domestic investors dominated the market, accounting for 81.14% of the total transactions, while foreign investors contributed 18.86%.
The report revealed that domestic transactions amounted to N2.82 trillion, while foreign transactions stood at N655.47 billion. Despite a 22.8% drop in overall transactions in August—falling from N491.61 billion in July to N379.52 billion—a year-on-year comparison showed a 44.55% increase from N262.56 billion in August 2023.
Further analysis indicated that domestic transactions in August totaled N322.05 billion, marking a 25.81% decline from N434.09 billion in July. Foreign transactions experienced a marginal decrease of 0.09%, dropping slightly from N57.52 billion in July to N57.47 billion in August.
Retail investors led domestic activity in August, with transactions worth N180.72 billion, although this represented a 33.54% decline from N271.92 billion in July. Institutional investors followed with N141.33 billion, down 12.85% from N162.17 billion in the previous month.
The report also highlighted a long-term trend showing a 10.94% decrease in domestic transactions over 17 years, from N3.56 trillion in 2007 to N3.17 trillion in 2023. Foreign transactions saw an even sharper decline, dropping by 33.28% from N616 billion to N411 billion over the same period.
In 2023, domestic investors made up 89% of total transactions, with foreign investors accounting for 11%. The NGX recorded N2.5 trillion in domestic transactions in the first seven months of 2024, reflecting a 27% increase compared to N1.968 trillion in the same period in 2023.
