In November 2024, the Nigerian Exchange (NGX) experienced a 12.01% drop in total transactions, falling to N442.34 billion from N502.73 billion in October 2024. This was revealed in the Domestic & Foreign Portfolio Investment Report released by Nigerian Exchange Limited on Friday.
The report indicated that domestic transactions in November amounted to N401.40 billion, an 11.83% decrease from N455.27 billion in October. Foreign transactions also declined by 13.74%, dropping from N47.46 billion in October to N40.94 billion in November.
Individual investors became more active in the market, with their trading activity growing by 14.90%, from N170.04 billion in October to N195.38 billion in November. On the other hand, trading by large institutions fell sharply by 27.77%, decreasing from N285.23 billion in October to N206.02 billion in November. This indicates a shift in market dynamics, with retail investors gaining more influence, while institutional investors pulled back.
Looking at the year-to-date figures, total transactions from January to November 2024 amounted to N4.913 trillion. Out of this, local investors made up the majority with N4.128 trillion, while foreign investors added N785.28 billion.
Compared to the same time in 2023, total transactions reached N3.234 trillion, with local investors adding N2.871 trillion and foreign investors contributing N362.75 billion. Even though there was a drop in November, the numbers were still 47.12% higher than the N300.67 billion recorded in November 2023. Local investors remained the main players, accounting for about 82% of all transactions that month.
Over the last 17 years, total local transactions decreased by 10.94%, falling from N3.556 trillion in 2007 to N3.167 trillion in 2023. Foreign transactions also dropped significantly by 33.28%, from N616 billion in 2007 to N411 billion in 2023.
