NGX transactions decline by 12% to N422 billion, according to a report.

The Nigerian Exchange experienced a reduction in overall transactions in November 2024, with a decrease of 12.01 percent, bringing the total to N442.34 billion, down from N502.73 billion in October 2024.

This information was revealed in the Domestic & Foreign Portfolio Investment Report published by Nigerian Exchange Limited on Friday.

The report indicated that domestic transactions amounted to N401.40 billion in November, reflecting an 11.83 percent decline from the N455.27 billion recorded in October. Additionally, foreign transactions decreased by 13.74 percent, falling from N47.46 billion in October to N40.94 billion in November.

Conversely, retail investors demonstrated heightened engagement, with their transactions increasing by 14.90 percent, rising from N170.04 billion in October to N195.38 billion in November.

Institutional transactions, however, saw a significant decline, falling by 27.77 percent from N285.23 billion in October to N206.02 billion in November. This contrast underscores the differing levels of participation within the domestic market.

From a year-to-date standpoint, total transactions from January to November 2024 reached N4.913 trillion. Domestic investors were the primary contributors, accounting for N4.128 trillion, while foreign investors added N785.28 billion.

In comparison, the same timeframe in 2023 recorded total transactions of N3.234 trillion, with domestic investors contributing N2.871 trillion and foreign investors N362.75 billion.

Despite the monthly downturn, transactions in November 2024 represented a 47.12 percent increase over the N300.67 billion recorded in November 2023. Domestic investors maintained their dominance in the market, outperforming foreign investors by approximately 82 percent during that month.

Over a span of 17 years, total domestic transactions decreased by 10.94 percent, from N3.556 trillion in 2007 to N3.167 trillion in 2023. Similarly, foreign transactions experienced a decline of 33.28 percent, dropping from N616 billion to N411 billion in the same period.

The PUNCH reported that domestic transactions on the Nigerian Exchange reached N3.73 trillion year-to-date in October, representing 83.35 percent of total market activity.