NGX retail transactions hit N26.62bn

According to figures from the nation’s local bourse, retail transactions in the Nigerian Exchange rose by 10.69% to N26.62 billion in November.

According to data from the Nigerian Exchange, retail transactions increased from N24.05 billion in October 2022 to N26.62 billion in one month.

As of November 30, 2022, the total volume of trades on the NGX was N104.38 billion, down 5.19 percent from October’s N110.09 billion.

Retail investors came in second with N26.62 billion, but institutional investors outperformed them with N63.33 billion, according to market analysts who thought the increase was a good sign for Nigerian equities given the current economic climate.

Ayotunde Alabi, a capital market analyst, claimed that more Nigerians were learning how to make good investments every day. He blamed the market’s recent collapse on the capping of equities and investors’ desire for rapid gains.

People are starting to recognize that equities are currently affordable, according to what we have observed in the market from a retail standpoint.

Additionally, there are more chances for investors to lock in at a reduced price.

He cited the recent drop in FTX as a key factor in the increase. “More Nigerians are starting to see cryptocurrencies for what they are, thus they are flowing back their money into the Nigerian stocks,” he claimed.

Remember that the Securities and Exchange Commission Director General, Mr. Lamido Yuguda, stated that members of the Capital Market Committee had adopted some measures to increase the number of mandated investors on the e-DMMS and decrease the quantum of unclaimed dividends in the market. This was done in an effort to attract and build investors’ confidence.

He said, “Dividends are now distributed electronically, so dividends go directly into the investors’ accounts and if everybody mandates its account, there would be little unclaimed dividends in the system.

“This process is still open and can be done with the registrars, forms can be obtained from the banks too and it is a very simple process.

“We also have on our website a tool that assists the investors to determine any unclaimed dividends that they have.”

READ MORE: Nigerian Exchange (NGX) closed today with a gain of N53 billion