Foreign Investors Pull Out N55bn From NSE in Feb

Nigerian stock market
  • Foreign Investors Pull Out N55bn From NSE in Feb

Foreign investors continued to pullout fund from the Nigerian Stock Exchange in February despite assurance from the Buhari administration.

Foreign outflows rose 97.8 per cent from N27.81 billion in January 2019 to N55.01 billion in February.

The Nigerian Stock Exchange, in its recent foreign portfolio report, stated that foreign inflows increased by 91.24 per cent from N22.97 billion to N43.93 billion between January and February. Indicating growing interest in the stock market following a successful presidential election.

The total transactions executed by foreign investors outperformed those executed by domestic investors by six per cent.

A further break down of the transactions performed between January and February showed that total foreign transactions increased by 48 per cent to N98.94 billion in February, up from N66.85 billion in January.

The total transactions performed at the Nigerian Stock Exchange in February rose by 54.06 per cent to N188.08 billion, up from N122.08 billion recorded in January.

Foreign investors are still holding back due to the uncertain policy direction in recent months.

Still, experts believe the market will rebound in the near-term as policies of Buhari led administration becomes clearer.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya

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