Nigeria’s equity transactions increase 50% in May 2018
Adesola Afolabi was a businessamlive reporter and Head of Financial desk.
Domestic and foreign portfolio participation report on equity trading at the Nigerian Stock Exchange (NSE) for May 2018 show total transactions at the nation’s bourse increased by 50 percent from N212.23 billion recorded in April 2018 to N318.27 billion (about $1.04 billion) in May 2018.
According to the report, cumulative transactions from January to May increased by 97.13 percent from N714.99 billion recorded in 2017 to N1.409.47 trillion in 2018.
Foreign investors outperformed domestic investors by 21.25 percent in May 2018, as total domestic transactions increased by 39.71 percent from N89.70 billion in April to N125.32 billion in May 2018.
Foreign transactions also increased by 57.47 percent from N122.53 billion to N192.95 billion within the same period.
The report notes that there was a 3.45 percent decrease in foreign inflows from N64.28 billion in April 2018 to N62.06 billion in May 2018, while foreign outflows increased by 124.70 percent from N58.25 billion to N130.89 billion within the same period.