CUMULATIVE PORTFOLIO INVESTMENT UP 49.8% BY JUNE

Cumulative portfolio investment in equity by both foreign and domestic investors through the Nigerian stock exchange rose by 49.8% to N935.26bn by  last June when compared to the first half of 2016.

According to figures released this week by the Nigerian stock exchange, foreign investors portfolio grew by 59.8% to N430.23bn within the period compared to 42.2% increase in domestic portfolio to N505.03bn.

Hence, by June this year, foreign investors share of portfolio investment was 46% as against 43.1% by June 2016.

Within the six months, highest monthly investment was in March with N285.05bn invested followed by June itself (N220.61bn) and May during which N205.61bn was involved.

The lowest was April's N54.90bn followed by N74.11bn jn February.

Even though the second highest portfolio investment was recorded in June, growth in both foreign and domestic outlay was not fantastic. While the total grew by only 7.13% , foreign portion rose by 6.67% to N101.53bn and the domestic by 7.53% to N118.74bn.

Indeed, the foreign portfolio growth was sustained in June not by more inflow; as a matter of fact inflow declined by 9.87% from period high N73.15bn in May to N65.93bn.

On the other hand, outflow rise by 61.5% to N35.6bn from N22.04bn. However, total inflow up to June came to N215.97bn up 78.1% from N121.29bn previously while cumulative outflow grew by only 44.8% to N214.26bn from N147.92bn.

Top monthly outflow was May's N108.87bn compared to only N16.1bn inflow in the same month.

The growth in cumulative domestic portfolio was accounted for more by domestic institutional investors who invested N326.85bn within the period up 75.6% on N186.16bn first half of 2016.

In sharp contrast, the growth in domestic retail portfolio was only 5.41% to N178.18bn from N169.03bn previously.

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