Business

Foreign transactions hit N39bn in August

DEALS

 

Institutional investors outperformed retail investors by four per cent

 

 

Total foreign transactions carried out at the Nigerian Stock Exchange (NSE) increased by 12.69 per cent from N34.59 billion (about $89.00 million) to N38.98billion (about $100.81million) in August 2020.

 

However, according to a report obtained from the NSE by New Telegraph, further analysis of the total transactions executed between the current and prior month (July 2020) revealed that total domestic transactions decreased by 19.16 per cent from N68.62 billion in July to N55.47 billion in August 2020.

 

On a monthly basis, the Nigerian Stock Exchange polls trading figures from market operators on their Domestic and Foreign Portfolio Investment (FPI) flows. Further checks revealed that in-stitutional investors outperformed retail investors by four per cent.

 

A comparison of domestic transactions in the current and prior month (July 2020) revealed that retail transactions decreased by 18.22 per cent from N32.54 billion in July 2020 to N26.61billion in August 2020.

 

Whilst the institutional composition of the domestic market decreased by 20.01 per cent from N36.08 billion in July 2020 to N28.86 billion in August 2020 As at August 31, 2020, total transactions at the nation’s bourse decreased by 8.49 per cent from N103.21 billion (about $265.55 million) in July 2020 to N94.45billion (about $244.27 million) in August 2020.

 

The performance of the current month when compared to the performance in August 2019 (N121.99 billion) revealed that total transactions decreased by 22.58 per cent.

 

In August 2020, the total value of transactions executed by domestic investors outperformed transac-  tions executed by foreign Investors by circa 18 per cent. Highlights of the the performance of the market over the last decade showed that over a 13 year period, domestic transactions decreased by 72.30 per cent from N3.556 trillion in 2007 to N985 billion in 2019 whilst foreign transactions increased by 53.08 per cent from N616 billion to N943 billion over the same period.

 

Total domestic transactions accounted for about 51 per cent of the total transactions carried out in 2019, whilst foreign transactions accounted for about 49 per cent of the total transactions in the same period.

 

The actual performance referenced 2020A (2020 Actual) shows that total foreign transactions carried out year till date (YTD) is about N470.20 billion whilst total domestic transactions YTD is about N731.00 billion.

 

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