NGX transactions drop 12% to N422bn – Report

The Nigerian Trade recorded a decline in whole transactions in November 2024, dropping by 12.01 per cent to N442.34bn in comparison with N502.73bn in October 2024.

This was disclosed within the Home & International Portfolio Funding Report of Nigerian Trade Restricted on Friday.

Based on the report, home transactions contributed N401.40bn in November, representing an 11.83 per cent lower from the N455.27bn recorded in October. International transactions additionally fell by 13.74 per cent, declining from N47.46bn in October to N40.94bn in November.

Retail traders noticed elevated participation, with transactions rising by 14.90 per cent from N170.04bn in October to N195.38bn in November.

In distinction, institutional transactions skilled a decline, dropping by 27.77 per cent from N285.23bn in October to N206.02bn in November. This divergence highlights the various ranges of engagement inside the home market.

From a year-to-date perspective, whole transactions between January and November 2024 amounted to N4.913tn. Home traders accounted for many of those transactions at N4.128tn, whereas overseas traders contributed N785.28bn.

The identical interval in 2023 recorded whole transactions of N3.234tn, comprising N2.871tn from home traders and N362.75bn from overseas traders.

Regardless of the month-to-month decline, November 2024 transactions marked a 47.12 per cent improve in comparison with N300.67bn recorded in November 2023. Home traders continued to dominate the market, outperforming overseas traders by roughly 82 per cent through the month.

Over a 17-year interval, whole home transactions decreased by 10.94 per cent from N3.556tn in 2007 to N3.167tn in 2023. Equally, overseas transactions noticed a decline of 33.28 per cent, falling from N616bn to N411bn throughout the identical interval.

“Over 17 years, home transactions decreased by 10.94 per cent  from N3.556tn in 2007 to N3.167tn in 2023; while overseas transactions additionally decreased by 33.28 per cent from N616bn to N411bn over the identical interval.”

The PidomNigeria reported that home transactions on the Nigerian Trade reached N3.73tn year-to-date in October, accounting for 83.35 per cent of whole market exercise.