Foreign and domestic portfolios investors transactions in the stock market of the Nigerian Exchange Limited stood at N4.9 trillion in 11 months, nearly 52 per cent Year-on-Year (YoY)increase from N3.23 trillion reported in 11 months of 2023.
The latest ‘domestic & foreign portfolio participation in equity trading’ in 11 months of 2024 showed that foreign portfolio investors are showing stronger appetite for local assets with Foreign Portfolio Investment (FPI) transactions at N785.28 billion as against N362.75 billion in corresponding 11 months of 2023.
Official trading report at the weekend showed that FPI’s transactions in 11 months have reduced domestic investors dominance of the stock market, contributing 15.98 per cent against 84.02 per cent contribution by domestic investors.
According to the report, FPI inflow in 11 months of 2024 nearly tripled, as most foreign investors continue to benefit from the Central Bank of Nigeria (CBN) reforms in the foreign exchange market and cheap prices of most blue-chip companies quoted on the NGX.
The report by NGX showed that FPI inflow stood at N370.15 billion in 11 months of 2024 from N157.32 billion in 11 months of 2023.
