Foreign transactions in the Nigerian equities market soared by 97.88 per cent from N616 billion to N1.219 trillion in the last 12 years, figures released yesterday by the Nigerian Stock Exchange have shown.
In 2018 alone for instance, foreign transactions accounted for 51 per cent while domestic investors accounted for 49 per cent. But the bearish trend that charaterised the market since the 2018 and into 2019, which saw the exit of some investors, made more domestic investors to come into the market. Consequently, domestic transactions between January and September 2019 stood at N775.51 billion, while foreign transactions stood to N688.9 billion.
On the other hand, foreign investors bought more shares than they sold because inflow stood at N47.73 billion, while outflow was N46.72 billion. He said the need to raise funds to meet financing needs in preparation for resumption of schools, must have put pressure on domestic investors to sell more shares in September.
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