The scramble for local shares at the Nigerian stock market by foreign investors has intensified over the weekend.
Transactions by Foreign Portfolio Investors (FPIs) is said to have accounted for more than one-thirds of trading at the market.
The latest report on FPIs in the Nigerian market yesterday showed that foreign transactions have increased to about 35.5 per cent of total transactions.
This is the highest level of foreign participation so far in 2021.
Prior to this report, the previous highest level was about 29 per cent in February 2021.
The new report showed a sustained two-month bullish trend in FPIs, with the gap between inflows and outflows narrowing down.
The latest trading data showed that the percentage of FPIs transactions increased from 19.91 per cent in October 2021 to 35.46 per cent in November 2021. FPIs rose from N42.42 billion, about $102.21 million in October 2021 to N69.56 billion or about $167.58 million in November 2021, representing an increase of 64 per cent.
