Based on the recently released Nigerian Stock Exchange (NGX) domestic and foreign investment report for December 2021, the total value traded on the local bourse declined by 19.3 per cent Month-on-Month (m/m) to N158.3 billion ($363.8 million) in December from N196.1 billion ($472.5m) in November.
Similarly, since the local bourse lacked the visit of a Santa Claus rally in December, the broad equity index, All Share Index (ASI), returned a 2.1 per cent m/m loss in December, despite the Year-toDate (YTD) gain of 6.1 per cent at year-end.
The decline in total transaction value was broad-based as both the domestic (-2.9 per cent m/m) and foreign investors (-49.2 per cent m/m) reduced activity level, with the latter shedding more weight than the former.
Institutional investors still largely dominated transactions at the domestic front, trading higher by 5.1 per cent m/m to N85.2 billion ($195.9 million) in December. Despite the marginal increase, total domestic transaction value was down 2.9 per cent m/m to N122.9 billion ($282.6 million) as the retail investors significantly reduced participation on the local bourse by 17.1 per cent m/m to N37.7 billion ($86.8 million).
