NASD Nears N1trn as Access Bank Goes to OTC Exchange

NASD Nears N1trn as Access Bank Goes to OTC Exchange

National Association of Securities Dealers (NASD) over-the-counter market capitalisation was boosted by the admission of Access Bank Plc on the exchange in the just concluded week, inched near N1 trillion mark.

Access Bank Plc listed more than 35.545 billion shares in the NASD Over-the-Counter Securities Exchange valued at N353.674 according to traders.

Recall, that the Nigerian largest bank by total assets was delisted from the Nigerian Exchange (NGX) on Thursday 24 March 2022 following the Scheme of Arrangement in December 2021.

While the Holding company remains listed on NGX, the entire share capital of Access Bank Plc was admitted at N9.95 to NASD as an Admission of Company on Monday 28, March 2022.

Consequent to the new listing, the NASD OTC market capitalisation closed the week at ₦952.62 billion compared to ₦597.13 Billion as a result of the admission to the exchange.

NASD OTC Securities Exchange Index closed the week with a positive movement on the NSI. The NSI return increased by 0.19% to close the week at 724.49 points from 723.12 in the previous week.

According to trading data, there was a 96.28% decrease in the total value traded during the week. Trading data shows that investors trade a total of ₦48,228,851.46 in value compared to ₦1,297,603,612.42 in the previous week.

Total trade activity for the year printed at ₦16,304,005,898.13.

Meanwhile, the total volume traded last week was 7,357,225 units compared to 2,258,923,086 units in the previous week leading to a 99.67% decrease in trade volume compared previous week’s data. 

The total volume traded for the year settled at 3,004,575,282 units, according to market data from NASD Exchange.

The week closed with Industrial and General Insurance Plc ranking top among the five most traded securities by volume and Central Securities Clearing System (CSCS) Plc as the fifth most traded stock by volume traded in the week.

Niger Delta Exploration & Production Plc ranking top among the five most traded securities by value and Industrial and General Insurance Plc stood as the fifth most traded Security by value for the week.

Central Securities Clearing System Plc, which currently holds a market capitalisation of ₦86.65 Billion closed the week at ₦17.33 representing a 1.94 per cent increase from the previous close of ₦17.00

Niger Delta Exploration & Production Plc, which currently holds a market capitalization of ₦32.65 billion closed the week at ₦180.00 representing a 1.70 per cent increase from the previous close of ₦177.00

Friesland Campina Wamco Nigeria Plc, which currently holds a market capitalization of ₦122.04 billion closed the week at ₦125.00 representing a 0.40 per cent increase from the previous close of ₦124.50

NASD Plc, which currently holds a market capitalization of ₦5.33 billion closed the week at ₦12.00 representing a 13.30 percent decrease from the previous close of ₦13.84. READ: NASD Investors Gain as VFD Group Completes Rights Issue

Also, Afriland Properties Plc, which currently holds a market capitalization of ₦1.49 billion closed the week at ₦1.09 representing a 3.54 per cent decrease from the previous close of ₦1.13.

NASD OTC Securities Exchange closed on a negative note year to date as the market recorded a decrease in performance.

Data shows that NASD Security Index year-to-date returns decreased by 2.47% while the total volume traded year-to-date printed at 3,004,575,282 units in 549 deals.

Based on the volume of transactions conducted, the total value traded settled at ₦16,304,005,898.13 as of Friday’s close, data shows. #NASD Nears N1trn as Access Bank Goes to OTC Exchange