NASD Tumbles over Selloffs in Unlisted Companies Shares
NASD over–the–counter (OTC) market sinks again as investors retreat from taking positions in unlisted companies’ shares, thus forced the securities exchange index to end on a negative note.
Trading data show that the NASD securities exchange index (NSI) return decreased by 0.67% to 766.92 points from 772.08 in the previous week to due price depreciation in some unlisted companies’ shares traded.
Consequent to the weaker trading record, investors lose ₦10 billion in value, which dragged market capitalisation lower, a similar trend that happened in the previous week.
In the just concluded week, NASD OTC market capitalisation closed at ₦1.01 Trillion compared to ₦1.02 Trillion on Friday on account of negative movement in prices in the week.
Trading records show there was a 318.54% increase in the total value traded during the week. Specifically, the NASD Investors traded a total of ₦ 89,596,950.78 in value compared to ₦ 21,407,239.55 in the previous week.
Cumulatively, total trade activity for the year has now inched up to ₦ 22,040,123,433.48, according to NASD trading data. As of Friday, the total volume traded was 4,167,482 units compared to 3,692,290 units in the previous week.
This translates to a 12.87% increase in trade volume compared to a level seen in the previous week, and the total volume traded for the year inked at 3,236,470,326 units.
Central Securities Clearing System Plc ranked top among the five most traded securities by volume and NASD PLC was the fifth most traded stock by volume traded in the week.
Central Securities Clearing System Plc ranked top among the five most traded securities by value and NIPCO PLC stood as the fifth most traded Security by value for the week.
CitiTrust Holdings Plc, which currently holds a market capitalisation of ₦9.50 billion closed the week at ₦9.50 representing a 18.75 percent increase from the previous close of ₦8.00.
At a market capitalisation of ₦74.60 billion, Central Securities Clearing System Plc closed the week at ₦14.92 representing a 7.88 percent increase from the previous close of ₦13.83.
Niger Delta Exploration & Production Plc, a company which is currently valued at ₦38.09 billion closed the week at ₦210.00 representing a 6.60 percent increase from the previous close of ₦197.00.
Afriland Properties PLC, which currently holds a market capitalisation of ₦1.40 billion closed the week at ₦1.02 representing a 2.00 percent increase from the previous close of ₦1.00.
At a market capitalisation of ₦10.88 billion, NIPCO Plc closed the week at ₦58.00 representing a 1.75 percent increase from the previous close of ₦57.00.
NASD PLC, which currently holds a Market Capitalization of ₦8.86 billion closed the week at ₦18.15 representing a 0.33 percent increase from the previous close of ₦18.09.
Friesland Campina Wamco Nigeria Plc, which currently holds a market capitalisation of ₦183.82 billion closed the week at ₦94.14 representing a 8.16 percent decrease from the previous close of ₦102.50.
Year to date, the NASD OTC Securities Exchange market closed on a positive note as the market recorded an increase in performance.
NASD Security Index Year-to-date returns increased by 3.24%. Total volume traded year-to-date printed at 3,236,470,326 units in 1,681 deals and the total value traded closed at ₦ 22,040,123,433.48. # NASD Tumbles over Selloffs in Unlisted Companies Shares
