Domestic and Foreign Portfolio Participation in Equity Trading - October 2019

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Tuesday, November 26, 2019 / 12:48 PM / By NSE  / Header Image Credit: NSE

 

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On a monthly basis, The Nigerian Stock Exchange polls trading figures from market operators on their Domestic and Foreign Portfolio Investment (FPI)4 flows. As at 31 October 2019, total transactions at the nation's bourse increased by 15.35% from N141.45 billion (about $461.50 million) in September 20195 to N163.16 billion (about $532.35 million) in October 2019. The performance of the current month when compared to the performance in the same period (October 2018) of the prior year revealed that total transactions increased by 34.34%. In October 2019, the total value of transactions executed by foreign investors outperformed transactions executed by domestic investors by 28% as shown in figure 1 below.

 

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A further analysis of the total transactions executed between the current and prior month (September 2019) revealed that total domestic transactions increased by 26.45% from N47.00 billion in September to N59.43 billion in October 2019. Similarly, total foreign transactions increased by 9.83% from N94.45 billion (about $308.2million) to N103.73 billion (about $338.4million) between September and October 2019.


Analysis Of Domestic Transactions

The value of domestic transactions executed by Institutional investors outperformed retail investors by 38% as illustrated in figure 4 below. A comparison of domestic transactions in the current and prior month (September 2019) revealed that retail transactions decreased by 21.96% from N23.36 billion in September 2019 to N18.23 billion in October 2019. However, the institutional composition of the domestic market increased significantly by 74.28% from N23.64 billion in September 2019 to N41.20 billion in October 2019.

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Historical Analysis Of Domestic And Foreign Transactions

The data in figure 7 below, highlights the performance of the market over the last decade. Over a twelve (12) year period, domestic transactions decreased by 66.68% from N3.556t in 2007 to N1.185t in 2018 whilst foreign transactions increased by 97.88% from N616bn to N1.219t over the same period. Total foreign transactions accounted for about 51% of the total transactions carried out in 2018, whilst domestic transactions accounted for about 49% of the total transactions in the same period. The actual performance referenced 2019A (2019 Actual) shows that total foreign transactions carried out year till date (YTD) is about N792.64 billion whilst total domestic transactions YTD is about N834.94 billion.


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