Foreign Investors Trade N571bn Shares on NSE
NSE DG, Oscar Onyema
Nigerian stock market witnessed a total transactions of N570.8 billion by foreign portfolio investors between January and September 2012, the Nigerian Stock Exchange (NSE) disclosed Wednesday.
Nigerian stock market witnessed a total transactions of N570.8 billion by foreign portfolio investors between January and September 2012, the Nigerian Stock Exchange (NSE) disclosed Wednesday.
Trading statistics released by the exchange showed that transactions worth N954 billion have been executed on the floors of the exchange in the nine months, with foreign investors accounting for N570.8 billion.
A breakdown of the transactions by foreign investors showed that they purchased N318.55 billion and sold N252.24 billion, leading to a net transaction of N66.8 billion.
A further analysis of the transactions showed that domestic investors’ participation in the market has increased significantly by the end of September 2012.
From 33.2 per cent in 2011, participation by domestic investors rose to 40.2 per cent as at the end of September 2012. Before now, foreign participation grew from 15 per cent in 2007 to 67 per cent in 2011.
In January 2012, the exchange reported that foreign investors accounted for 81 per cent of total inflows (purchases) on the market during 2011 and 53 per cent of total outflows (sales).
Consequently, total transactions by foreign investors were N847.9 billion or 67 per cent out of total transaction of N1.3 trillion.
Meanwhile, in line with the phased introduction of additional stocks to the list of stocks in the baskets of market makers on the NSE yesterday added three new stocks all from the Banking Sub-sector of the bourse.
Meanwhile, in line with the phased introduction of additional stocks to the list of stocks in the baskets of market makers on the NSE yesterday added three new stocks all from the Banking Sub-sector of the bourse.
Effective today when the programme would exactly one month after its introduction, United Bank for Africa Plc; Ecobank Transnational Plc and Skye Bank Plc will be included in the stocks that market makers will be making market on.
The market making programme has started in September 2012 with 16 stocks before had nine other stocks added two weeks back. The additional three additional stocks now bring the number of stocks that Market Makers are making market on to 28.
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