Kayode Tokede
On the back of stronger domestic participation, improving macroeconomic conditions and rising investor confidence, the Nigerian equities market sustained its positive run in the seven months of 2026, placing Nigeria among the world’s strongest-performing equity markets in dollar terms.
Analysis of trading numbers showed that investors transacted an estimated N10.68 trillion in worth of stocks in seven months of 2026, about 126.01per cent Year-on-Year (YoY) increase over N4.73 trillion in the comparable period of 2025.
A breakdown of trading numbers showed that domestic institutional investors transacted N6.71trillion shares during the period, 145.02 per cent YoY increase over N2.74trillion in seven months of 2025.
Conversely, retail domestic investors sold N3.97 trillion shares in seven months of 2026, up by 99.8 per cent when compared to N1.99 trillion in seven months of 2025.
According to the Nigeria Exchange Limited (NGX) Domestic and Foreign Investors Report, domestic investors have continued to dominated the Nigerian stock market transactions, attributable to reforms by capital market regulators.
But some capital market analysts attributed the performance to the National Pension Commission’s (PenCom) decision to raise equity limits for pension funds in February 2026, among other factors.
The new policy resulted to injection of fresh liquidity into the stock market last week as the stock price of some blue-chip companies advanced significantly. PenCom on February 9, 2026, revised investment limits for ordinary shares in RSA Funds I, II, III, and VI-Active.
PenCom had amended Section 9 of its investment regulations, increasing equity allocation caps across multiple Retirement Savings Account (RSA) fund classes: RSA Fund I moved from 30 per cent to…
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