Investors at the Nigerian Stock Exchange, NSE, have lost N486 billion on equity trading for seven days consecutively.
This loss was driven by the demand of foreign investors ocassioned by foreign exchange uncertainty among others plagued equities.
Meanwhile, the latest data released by the NSE shows that Foreign Portfolio Investment (FPI) in the month of May decreased to N79.77 billion (about $0.41 billion), down 23.26 per cent from N103.95 billion in April 2015.
Domestic investors conceded about 9.68 per cent of trading to foreign investors as domestic transactions decreased from 49.75 per cent to 45.16 per cent while FPI transactions increased from 50.25 per cent to 54.84 per cent over the same period total transactions decreased by 29.69 per cent from N206.86 billion in April to N145.45 billion in May and foreign portfolio investors’ inflows accounted for 26.12 per cent of total transactions while the outflows accounted for 28.72 per cent of the total transactions in May 2015.
Investment analysts expect on-going bearish run to persist, occasioned by lingering forex risk and uncertainties in the policy landscape, in the near term.