Despite the coronavirus pandemic in the country, Foreign Portfolio Investment (FPI) inflow into the Nigerian equity market was higher by 54.50 per cent to N110.22 billion in March, compared to N71.34 billion, The Nigerian Stock Exchange’s Domestic & Foreign Portfolio Investment Report has revealed.
According to the report, which was released on Monday, the total domestic transactions on the Exchange increased by 71.97 per cent from N77.16 billion in February to N132.69 billion in March 2020.
It showed that the total transactions at the nation’s bourse were up by 63.58 per cent from N148.50 billion in February 2020 to N242.91billion as of March 31, 2020.
“The performance of the current month, when compared to the performance in March 2019 (N110.11billion), revealed that total transactions increased by 120.60 per cent. In March 2020, the total value of transactions executed by Domestic Investors outperformed transactions executed by Foreign Investors by circa 10 per cent,” it stated.
The report showed that investment by institutional investors was higher than retail investors by 10 per cent during this period, while domestic transactions in March up ticked by 103.72 per cent to N60.22 billion from N29.56 billion in February 2020.
“Over a thirteen (13) year period, domestic transactions decreased by 72.30 per cent from N3.556trillion in 2007 to N985bn in 2019 whilst foreign transactions increased by 53.08 per cent from N616bn to N943bn over the same period,” the report also indicated.