Investors Lost N13bn as NASD Share Index Declines
Investors record about N13 billion loss against an open value in the NASD over-the-counter (OTC) market for trading unlisted companies’ shares on Tuesday.
Trading data show that the OTC share Index which has been relatively unimpressive waned further by 1.26% today to close at 752.48 basis points. According to APT Securities & Funds Limited, this outing pegged the market capitalization at N990.58 billion as investors lost N12.69 billion.
The decline was driven by share price depreciation seen in Friesland WAMCO, down by 6.99% to N86.50 from N93 per share. 11 Plc, VFD Group and Afriland share prices were steadied as the number of deals executed dropped by 20%.
Market activity as measured by the volume of trades dropped in the session as 10,274 shares were traded in 4 deals against a volume of 17,000 units traded in 5 deals in the previous session. READ: Market Cap of NASD OTC Falls to N1 Trillion
This represents a 39.56% downtick in the volume of trades as executed deals dipped by 20.00%. The value traded shares stood at N1.642 million representing a 19.71% drop from a value of N2.045 million recorded in the previous session.# Investors Lost N13bn as NASD Share Index Falls 1.26%
