Influenced by global and domestic challenges, domestic and foreign investors reduced their portfolios in the Nigerian equities market by 33.94 per cent in September to N81.90 billion from N123.97 billion in August 2022.
According to the report, at about 75.98 per cent, domestic investors’ transactions outperformance foreign investors that transacted a total of 24.02 per cent in the month under review. Speaking with THISDAY, The CEO Wyoming Capital and Partners, Mr. Tajudeen Olayinka said the decline in domestic and foreign portfolio in the stock market is an extension in bearish trend the market has suffered since the beginning of sequential interest rate hikes in May 2022, currently at 15.5 per cent.
According to him, “The hike in MPR by CBN to 15.5 per cent, double digit inflation rate, security challenges, among others discouraged investors to invest in the stock market.”