Data from the Nigerian Exchange has shown that retail transactions in Nigerian Exchange increased by 10.69 per cent.
This is an increase to N26.62 billion in the month of November according to the data from the country’s local bourse.
The data showed that retail transactions added N26.62bn in the month from N24.05bn in October 2022.
As of 30 November 2022, total transactions in the NGX decreased by 5.19 per cent from N110.09bn in October 2022 to N104.38bn in November 2022.
Institutional investors with N63.33bn outperformed retail investors (N26.62bn), as market observers believed that the appreciation was a positive indicator for Nigerian stocks, considering the current economic environment.
Recall that in a bid to attract and build investors’ confidence, the Director General of the Securities and Exchange Commission, Mr Lamido Yuguda, said members of the Capital Market Committee had adopted some measures to increase the number of mandated investors on the e-DMMS and reduce the quantum of unclaimed dividends in the market.
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.”