Dealers see further decline in months ahead
By Nkiruka Nnorom
As the Nigerian economy approaches its first half year, there are indications that foreign investors’ confidence is yet to return even after two consecutive quarters of positive gross domestic product, GDP. Foreign Portfolio Investors (FPIs), the main gauge of external sector confidence, has plummeted 41.57 percent in the first four months of 2021.
Figures on Domestic and Foreign Portfolio Participation in Equity Trading for April 2021, published by the Nigerian Exchange (NGX) Limited, showed that the foreign investors have reduced their stakes to N178.25 billion at end of April. This is against N305.05 billion invested in the corresponding period in 2020.
However, domestic investors raised their stake within the period by 46.11 percent to N658.21 billion as against N450.48 billion in the corresponding period of 2020 as a result of assets rotation by the locals from fixed…
Source: Vanguard Newspaper