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EXPLAINER: How Nigeria s newly launched exchange-traded derivatives market can profit stock investors

How instability in the FX market trigger foreign investors apathy in Nigeria s equities market

The Chief Executive Officer of Cowry Asset Management, Mr Johnson Chukwu, has explained how a combination foreign exchange crises have negatively impacted foreign investors’ sentiment in Nigeria’s equities market. The analysis was in response to the recent Nigerian Stock Exchange’s Domestic and Foreign Portfolio Investment Report for January 2021, which showed that domestic participation in the equities market outperformed foreign transactions, as the latter could only account for 20% of the total market activities. The report further indicated a downward trend in the share of foreign participation in the equities market, from about 51% in 2018 to 20% as at January 2021. Reacting to the development, Mr Chukwu in an interview with Arise TV blamed the combination of FX liquidity crisis and instability of the Nigerian foreign exchange market as underlying causes for the downward trajectory.

Banking Index slumps to 375 35 Index points, as Sterling and Wema shares lose over 10%

Coinbase, a Cryptocurrency exchange made its highly anticipated debut on Nasdaq on Wednesday, April 14, 2021, becoming the first company devoted entirely to cryptocurrency to enter the US stock exchange. The IPO of Coinbase Global today was a big turning point for the cryptocurrency business. It had a rousing debut on Wall Street with the digital currency exchange’s stock growing as high as $429, giving it a market cap of $100 billion for a brief period of time. According to analysts, retail trading accounts for 90% of Coinbase’s income, with the majority of trading taking place in the United States and focusing mainly on the two main cryptos: Bitcoin and ETHUSD. Dubbed the most talked-about IPO on Wall Street, Coinbase resumed trading on the Nasdaq Composite Index today under the ticker “COIN.”

Foreign investors withdrew N433bn from stock market in 11 months –NSE

Foreign investors withdrew N433.15 billion worth of investment from the Nigerian equity market between January and November, compared to the N481.96 billion reported in the corresponding period of 2019, according to the Nigerian Stock Exchange (NSE)’s Domestic and Foreign Portfolio Investment Report for November issued on Wednesday. The NSE noted that foreign inflows into the stock market declined N226.13 billion year to date from N397.44 billion recorded last year. Total transactions on the NSE rose from N244.90 billion in October to N317.81 billion in November, showing about 30 per cent improvement in liquidity in the month under review. Local investors accounted for the biggest chunk of the transactions executed during the month at 58 per cent, while their foreign counterparts contributed the rest.

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