NGX Transactions Dip by 12% in November, Domestic Investors Still Lead the Pack

The latest report has indicated that the Nigerian Exchange Limited (NGX) recorded a reduction in total transactions in November 2024, dropping by 12.01 percent to N442.34 billion compared to N502.73 billion in October 2024.

This was revealed in the Domestic & Foreign Portfolio Investment Report of Nigerian Exchange Limited on Friday.

The report showed that domestic transactions added N401.40 billion in November, representing an 11.83 percent reduction from the N455.27 billion recorded in October.

It indicated further that foreign transactions also fell by 13.74 percent, declining from N47.46 billion in October to N40.94 billion in November.

In the same period, retail investors witnessed increased participation, with transactions rising by 14.90 percent from N170.04 billion in October to N195.38 billion in November.

However, in a harp contrast, institutional transactions experienced a decline, dropping by 27.77 percent from N285.23 billion in October to N206.02 billion in November.

This divergence signals the different levels of engagement within the domestic market.

From a year-to-date perspective, total transactions between January and November 2024 amounted to N4.913 trillion.

Domestic investors accounted for most of these transactions at N4.128 trillion, while foreign investors contributed N785.28 billion.

In the same period in 2023, total transactions of N3.234 trillion were recorded, comprising N2.871 trillion from domestic investors and N362.75 billion from foreign investors.

Despite the monthly decline, November 2024 transactions marked a 47.12 percent increase compared to N300.67 billion recorded in November 2023.

Domestic investors continued to dominate the market, outperforming foreign investors by approximately 82 percent during the month.

Over a 17-year period, total domestic transactions decreased by 10.94 percent from N3.556 trillion in 2007 to N3.167 trillion in 2023.

Similarly, foreign transactions recorded a decline of 33.28 percent, falling from N616bn to N411bn during the same period.