The Nigerian Stock Exchange has released its Foreign Portfolio Investment report for the month of January 2016. According to the report, Foreign Portfolio Inflows (FPI) dropped by about 65% from a year ago to N17 billion (January 2015: N48 billion). Foreign Portfolio outflows however dropped to about N26 billion compared to N50 billion a year ago.
The drop in outflows is not a surprise as foreign investors have for the last year been pulling funds out of the stock market.
Here are key highlights of the report
- Total transactions at the nation’s bourse decreased by 23.93% from N110.56 billion recorded in December 2015 to N84.1 billion (about $0.43 billion) in January 2016.
- In comparison to the same period in 2015, total transactions decreased by 55.67% from the N189.72 recorded in January 2015.
- Domestic investors conceded about 3.14% of trading to foreign investors as Domestic transactions decreased from 53.55% in December 2015 to 48.43% in January 2016 while FPI transactions increased from 46.45% to 51.57% over the same period.
- Monthly foreign outflows outpaced inflows which was consistent with the same period in 2015. However, there was a 23.17% decrease in foreign outflows from N34.31 billion in December 2015 to N26.36 billion in 2016.
- Also, foreign inflows decreased by 0.18% from N17.04 billion in December 2015 to N17.01 billion in January 2016.
Get the report here