The Nigerian stock market saw a 1.97% rise in total local and international investments in stock trading, reaching 502.73 billion Naira in October 2024, according to a report from the Nigerian Exchange Limited (NGX).
The 502.73 billion Naira in October 2024 is a 1.97% increase from the 493.01 billion Naira in September 2024. Compared to October 2023, when the investment was 220.94 billion Naira, this represents a significant 127.54% increase.
Domestic investors accounted for N466.27 billion, representing 90.56% of the total investment. Foreign investors added N47.46 billion, or 9.44%. This shows that local investors are much more involved, with their share being 859.27% larger than that of foreign investors.
In terms of domestic investment, institutional investors were the dominant players, contributing N285.23 billion (67.74%), compared to N170.04 billion from small individual investors in the same period. Month by month, institutional investors did much better, while small individual investors saw a big drop of 40.98% from N288.10 billion in September.
Foreign investor participation grew by 14.61% or N6.05 billion, rising from N41.41 billion in September to N47.46 billion in October 2024. Compared to the same month last year, foreign investment deals increased by 42.27% or N14.10 billion, up from N33.36 billion in October 2023.
For the year 2024, the total investment transactions indicate that foreign investments in stocks decreased, with total outflows surpassing inflows by 13.93% or N55.74 billion. Foreign inflows amounted to N344.30 billion, while outflows reached N400.04 billion.
