Stocks gain 7.42% in four days on active value investing
Foreign portfolio investments up by N38 billion in July
THE equities market closed yesterday on a positive note, as NSE ASI appreciated by 1.82 per cent to close at 30,225.34 basis points, compared with the 3.02 per cent appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at 12.79 per cent.
Market breadth also closed positive as Stanbic led 39 gainers against 20 losers topped by Conoil at the end of yesterday’s session- an unimproved performance when compared with previous outlook.
Market turnover equally closed positive as volume surged by 97.10 per cent against 27.86 per cent uptick recorded in the previous session. UBA, Zenith Bank and Access Bank were the most active to boost market turnover.
Access and Zenith Bank market value list. Volume shockers included Nigerian Police Force Microfinance Bank which led the list of active stocks that recorded impressive volume spike at the end of yesterday’s session.
Meanwhile, monthly Foreign Portfolio Investments [FPI] transactions at the nation’s bourse which was N69.65 billion at the end of June 2015 increased to N107.47 billion (about $0.55 billion) at the end of July 2015, up 54.30 per cent from June 2015.
On a monthly basis, The Nigerian Stock Exchange polls trading figures from major custodians and market operators on their foreign portfolio investments (FPI] and reported that domestic investors conceded about 25.82 per cent of trading to foreign investors as Domestic transactions decreased from 65.76 per cent to 37.09 per cent while FPI transactions increased from 34.24 per cent to 62.91 per cent over the same period.
Foreign portfolio investors’ inflows accounted for 28.47 per cent of total transactions while the outflows accounted for 34.44 per cent of the total transactions in July 2015.
In comparison to the same period in 2014, total FPI transactions increased by 90.48 per cent, whilst the total domestic transactions decreased by 62.23 per cent.
FPI outflows outpaced inflows which was not consistent with the same period in 2014. Overall, there was a 23.80 per cent decrease in total transactions in comparison to the same period in 2014.