The Nigerian Exchange Limited has said the total inflows of foreign portfolio investments declined by N30.91bn from January to July, compared to the corresponding period in 2020.
NGX’s Domestic and Foreign Portfolio Investment Report for July 2021 showed that inflows from foreign investors totalled N112.74bn, a 21.52 per cent decline when compared to the same period of last year.
The total outflows from the equity market as of July 31, 2021 amounted to N124.75bn, representing a 56.62 per cent plunge.
The net foreign portfolio investment year-to-date, a difference between foreign outflows and inflows, stood at N12.01bn, representing negative sentiments in the market from foreign investors.
The report also revealed that the total transactions at the local bourse decreased by 10.92 per cent from N100.77bn (about $244.88m) in June to N89.77bn (about $218.20m) in July.
According to the exchange, a further analysis of the total transactions revealed that total domestic transactions decreased by 33.69 per cent from N23.42bn to N15.53bn between June and July.
It said, “Retail Investors outperformed institutional investors by 2 per cent. A comparison of domestic transactions in the current and prior month (June 2021) revealed that retail transactions increased by 4.24 per cent from N36.06bn in June 2021 to N37.59bn in July 2021.
“However, the institutional composition of the domestic market decreased by 11.24 per cent from N41.29bn in June 2021 to N36.65bn in July 2021.”