Domestic and Foreign Portfolio Participation in Equity Trading - November 2019

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Monday, December 30, 2019 / 10:09 AM / 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 30 November 2019, total transactions at the nation's bourse increased by 5.74% from N163.16 billion (about $532.35 million) in October 20195 to N172.52 billion (about $562.89 million) in November 2019. The performance of the current month when compared to the performance in the same period (November 2018) of the prior year revealed that total transactions increased by 15.23%. In November 2019, the total value of transactions executed by foreign investors outperformed transactions executed by domestic investors marginally by 2.00% as shown in figure 1 below.

 

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A further analysis of the total transactions executed between the current and prior month (October 2019) revealed that total domestic transactions increased by 44.30% from N59.43 billion in October to N85.76 billion in November 2019. However, total foreign transactions decreased by 16.36% from N103.73 billion (about $338.4million) to N86.76 billion (about $283.1million) between October and November 2019.


Analysis Of Domestic Transactions

The value of domestic transactions executed by Institutional investors outperformed retail investors by 24% as illustrated in figure 4 below. A comparison of domestic transactions in the current and prior month (October 2019) revealed that retail transactions increased significantly by 76.69% from N18.23 billion in October 2019 to N32.21 billion in November 2019. However, the institutional composition of the domestic market increased by 29.98% from N41.20 billion in October 2019 to N53.55 billion in November 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 N879.40 billion whilst total domestic transactions YTD is about N920.70 billion.


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