NSE Transactions Drop by N560bn in 8 Months

• NSE Transactions Drop by N560bn in 8 Months

The uncertainty surrounding the Nigerian Stock Exchange (NSE) continued to weigh on business activity on the trading floor as the total transactions executed declined by 29.7 percent year-on-year.

In the NSE monthly report, the total transactions carried out on the trading floor between January and August 2019 dropped by N560 billion to N1.32 trillion when compared with the N1.88 trillion recorded in the same period of 2018.

Breaking down the report, foreign transactions declined from N906.86 billion in 2018 to N594.46 billion, while domestic transactions dropped from N970.31 billion to N728.51 billion.

However, on a monthly basis total transactions performed increased by 7.51 percent to N121.99 billion in August, up from N113.47 billion filed in July. But when compared with August 2018, it decreased by 8.85 percent.

Domestic transactions performed between July and August increased by 5.39 percent to N58.69 billion in August, up from N55.69 billion in July.

Accordingly, the total foreign transactions increased by 10.59 percent from N57.78 billion to N63.90 billion between the months of July and August.

The value of domestic transactions executed by institutional investors outperformed retail investors by eight per cent.