In
the seven months to July 2014, offshore portfolio investors pulled out
N426.37billion from the stock market through sales transactions or outright
liquidation of their portfolio investments, BusinessDay investigations reveal.
This
amount represents 55.98% of foreign portfolio transactions, valued at
N761.57billion made within same period. Inflows, which include purchase
transactions on the Nigerian Stock Exchange (equities only), accounted for the
balance at N335.2 billion.
Foreign
investors are major buyers of Nigerian equities but recent trends, including
the country’s rising socio-political risks, as well as low returns, are among
reasons for the ceding of the greater percentage of their equities holdings to
domestic equity buyers.
Some
analysts said yesterday that the action was capable of
