Nigerian exchange reaches new heights with trading volume of N3.968 trillion in 2024

The Nigerian Exchange Limited (NGX) recorded significant growth in the value of traded shares, reaching a record high of N3.968 trillion in the nine months to September 30, 2024.

This figure represents a significant increase compared to the N2.712 trillion worth of shares traded during the same period in 2023.

Foreign investors contributed N696.88 billion, representing 17.56 percent of the total value of shares traded, while domestic investors dominated the market with N3.271 trillion, or 82.44 percent of the total trading volume.

According to the latest Domestic and Foreign Portfolio Investment (FPI) report released by NGX, foreign investment inflows during the review period stood at N310.99 billion, while foreign investment outflows reached N385.89 billion.

The report highlights the performance of domestic investors, with retail investors trading shares worth N1.739 trillion and institutional investors contributing N1.531 trillion over the nine-month period.

In September 2024, the total transaction volume on the Nigerian Exchange increased by 29.90 percent compared to the previous month, increasing from N379.52 billion (approximately US$237.70 million) in August to N493.01 billion (approximately US$307.7 billion). US$84 million).

This is a marked improvement from September 2023, when total transactions stood at N295.80 billion, up 66.67 percent from last year.

In September 2024, domestic investors outperformed foreign investors, transacting 84 percent more than their foreign counterparts.

Domestic transactions increased significantly, with total domestic trade increasing by 40.23 percent from N322.05 billion in August to N451.60 billion in September.

Conversely, the volume of foreign transactions decreased by 27.95 percent, falling from 57.47 billion naira (about $35.99 million) in August to 41.41 billion naira (about $25.86 million) in September.

The report also found that retail investors outperformed institutional investors, outperforming them by 28 percent. A closer look at the domestic market shows that retail transactions increased by 59.42 percent, from N180.72 billion in August to N288.10 billion in September, while institutional transactions grew by 15.69 percent, from N141 .33 billion naira to 163.50 billion naira during the period. the same period.

Boluwatife Enome

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