The dwindling attraction and returns in the country’s stock market caused foreign portfolio investors to pull out N410.49bn from the equities segment of the Nigerian Stock Exchange between January and August this year.
Data obtained from the NSE showed that just as was the case last year, foreign investment outflow exceeded inflow in the first eight months of 2015. Foreign investors had pulled N846.53bn from the stock market last year although they invested N692.39bn, a development that caused the NSE All-Share Index to close with a negative return of -16.14 per cent.
This is because the market is dominated by the foreign investors. They accounted for 57.52 per cent of total transactions in 2014. Read more