NGX retail transactions dip by 54.89% – Report

Retail transactions on the Nigerian Exchange Limited dropped by 54.89 per cent to N100.77bn in April, from N223.37bn in the previous month.

This was revealed in the latest Domestic and Foreign Portfolio Investment Report of the NGX.

Despite decreasing by 43.58 per cent to N124.63bn in April, institutional transactions outperformed retail by 10 per cent.

“In April 2024, the total value of transactions executed by domestic Investors outperformed transactions executed by foreign investors by circa 30 per cent. A further analysis of the total transactions executed between the current and prior month (March 2024) revealed that total domestic transactions decreased by 49.27 per cent from N444.28bn in March to N225.40bn in April

“However, total foreign transactions increased by 28.19 per cent from N94.26bn (about $70.83m) to N120.83bn (about $90.83m ) between March 2024 and April 2024,” the report indicated.

Also, the total domestic and foreign portfolio transactions in Nigeria’s equity market amounted to N346.23bn in April 2024, representing a decrease of 35.71 per cent compared to the N538.54bn recorded in March 2024.

Despite the month-on-month decline, the April figure showed a 81.07 per cent increase from the N191.21bn reported in the previous year, indicating a positive year-on-year growth in the market activity.

A detailed analysis of the transactions revealed that domestic investors were the primary drivers, contributing N225.40bn in April 2024.

Meanwhile, the local bourse opened the new week with 0.3 per cent to 97,864.65 points, after suffering three consecutive losses last week.

The market year-to-date return improved to 30.9 per cent from 30.5 per cent, which it closed last week.