Nigeria’s foreign portfolio transactions declined by N280 billion as foreign investors remain net sellers of Nigerian equities.
According to the Nigerian Stock Exchange’s latest foreign portfolio transactional report, total foreign transactions at the Nigerian stock market dropped to N879.40 billion over the past 11 months, indicating a 24.1% or N279.62 billion drop from N1.159 trillion recorded in the period in 2018.
The month of November saw a change in fortune, as FPI transactions reversed a three-month consecutive increase dropping by 16.4% or N16.97 billion to N86.76 billion in November 2019 as against N63.90 billion, N94.45 billion and N103.73 billion recorded in August, September and October 2019 respectively.
Meanwhile, the NSE report used two foreign portfolio inflow and outflow, to gauge foreign investors’ mood and participation in the stock market as a barometer for the economy. Inflow includes purchase transactions on the NSE as outflow includes sales transactions of equity portfolio investments.