Africa Business Communities

Foreign Portfolio Investments in Nigeria Hit N440 Billion

According to the latest update on foreign portfolio transactions at the stock market showed that foreign investors are staking more on Nigerian equities than they are taking out.

For the first time since the beginning of 2015, the foreign portfolio investment (FPI) report by the Nigerian Stock Exchange (NSE) showed positive net foreign inflow as foreign portfolio inflow outpaced outflow.

The report indicated that total foreign inflow leaped to N54.20 billion in April as against outflow of N49.75 billion, representing a modest positive net inflow of about N4.45 billion.

Total foreign transactions thus stood at N103.95 billion as against total domestic transactions of N102.91 billion during the month.

The latest report represented a positive shift for the market. In March, foreign portfolio outflows of N52.41 billion outpaced inflows of N50.15 billion.

Altogether, total foreign transactions in the past four months stood at N439.57 billion, including sales transactions of N234.84 billion and buy transactions of N204.73 billion. Domestic transactions accounted for N325.52 billion out of the cumulative transaction of N765.09 billion recorded within the four-month period.

www.bizwatchnigeria.ng

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