NGX: Net inflows fall 40% to N15bn amid sell-offs by foreign investors

Net inflows into the Nigerian Exchange Limited (NGX) fell by 39.6 per cent month-on-month (m/m) to N15.08 billion in August, as foreign investors intensified their sell-offs amid a sharp slowdown in overall market activity.
According to the NGX domestic and foreign portfolio investment report for the month, foreign investors recorded net sales of N9.09 billion, while domestic investors posted net purchases of N24.17 billion, cushioning the impact of the foreign sell-off and keeping the market in positive net inflow territory.
The decline in net inflows came against the backdrop of a significant contraction in trading activity on the equities market, with total transactions falling 46...