The Nigerian Stock Exchange (NSE) lost N642.65bn in 2018 from foreign investors, a contrast to the N435.31 withdrawn in 2017.
This was revealed in a report by the NSE on Thursday where it noted that foreign inflows into the market fell to N576.45bn last year from N772.25bn in 2017.
According to the report, foreign portfolio investment outflow includes sales transactions or liquidation of portfolio investments through the stock market.
“Domestic investors outperformed foreign investors by 4.54 per cent in December 2018. Total domestic transactions increased marginally by 0.64 per cent from N65.36bn in November to N65.78bn in December 2018,” the NSE said.
“In contrast, total foreign transactions reduced by 28.78 per cent from N84.36bn to N60.08bn driven by a reduction in foreign inflows, which reduced by 34.31 per cent from N34.97bn to N22.97bn and foreign outflows, which reduced by 24.86 per cent from N49.39bn to N37.11bn over the same period.
It added that “foreign transactions, which were N1.539tn in 2014, declined to N1.219bn in 2018. Over a 12-year period, domestic transactions have decreased by 66.67 per cent from N3.556tn in 2007 to N1.185tn in 2018.
“The total foreign transactions accounted for about 51 per cent of the total transactions carried out in the financial year 2018 whilst the domestic transactions accounted for about 49 per cent of the total transactions in the same year.”