8 elite companies control nearly half of stock market with N11trn

By Peter Egwuatu

The domestic investors executed N95.76 billion transactions in the Nigerian stock market in August, about 33.93 percent rise from N71.5billion previous month.

However, total foreign investor transactions decreased by 4.95 percent to N28.21billion from N29.68billion in July.

This also indicates that domestic investors’ domination of the market is sustained at 77 percent of the total value of transaction as against 23 percent by foreign investors.

Meanwhile retail transactions increased by 29.89% to N39.81billion from N30.65billion in July. Similarly, the institutional composition of the domestic market increased by 36.94 percent to N55.95billion from N40.85billion in July 2022. 

As at end August 2022, total transactions at the nation’s bourse increased by 22.52% to N123.97billion (about $289.04million) in August 2022 from N101.18billion (about $236.86million) in July 2022.

The performance of the current month when compared to the performance in August 2021 (N89.42billion) revealed that total transactions increased by 38.64%.

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