By Tunde Osho
The Nigerian Stock Exchange, NSE, in the year 2017 recorded a significant growth in the value of transactions, soaring by 68.25 percent.
In a report released by the Nigerian bourse, the aggregate value of transactions from January to December 2017 jumped significantly from N1.511 trillion recorded in 2016 to N2.543 trillion in 2017.
Foreign transactions carried out at the NSE last year accounted for N1.207 trillion, a huge rise from the N517.55 billion worth of transactions recorded in 2016.
It was further gathered from the report that the value of domestic transactions carried out on the floor of the NSE in 2017 was N1.335 trillion compared with N633.82 billion achieved in 2016.
Institutional composition of the domestic market leaped by 673.97 percent from N31.19 billion in January to N241.40 billion in December.
The retail composition also soared by 63.62 percent from N20.12 billion to N32.92 billion within the same period, indicating a higher participation by institutional investors over their retail counterpart.
In the month of December 2017, the report said the total transactions at the local stock market significantly increased by 72.64 percent from N278.49 billion recorded in November 2017 to N480.80 billion in December 2017.
A breakdown showed that during the month, the total foreign transactions increased by 37.56 percent from N150.10 billion recorded in November 2017 to N206.48 billion in December 2017, while the domestic transactions rose by 113.66 percent from N128.39 billion to N274.32 billion within the same period.
In 2017, the nation’s bourse appreciated by over 40 percent and was one of the best performers in the world.