The Nigerian Stock Exchange data has revealed that increased inflows from foreign investors has boosted the transactions on the stock market by 7.13% to N220.27 billion in June from a month earlier.
It showed that the value of foreign transactions on the exchange rose by 6.66% to N101 billion in the period.
Reuters attributed the return of foreign investors to Nigerian assets, previously after three years to a drop in valuation and improved liquidity.
The equity market is also said to have benefited from that new window for investors to trade the naira at market-determined exchange rate recently launched.
The report showed that foreign investors’ transactions on the market rose 59.81% to N430.23 billion in the first half of this year, compared with N269.22 billion a year earlier.
Last week, the market had rallied for an eighth consecutive week and peaked at a 33-month high before profit-takers took advantage of the gains to sell their holdings.
The market’s main index has gained about 34% year-to-date but profit-taking has dominated trading since the start of the week.
