Market Cap of NASD OTC Falls to N1 Trillion
Over-the-counter (OTC) exchange for trading unlisted companies’ stocks, NASD, market capitalisation backtracked to N1 trillion after investors recorded N30 billion, according to trading data.
In the just concluded week, NASD OTC Securities Exchange Index (NSI) closed the week again on negative movement on the index amidst uncertainties in the local economic condition.
According to trading data, The NSI return decreased by 2.770% to close the week at 761.27 points against 782.97 reported in the previous week driven by price decline in Friesland Campina Wamco Nigeria Plc.
As uncertainties in the Nigerian economy broaden, investors are pulling out, rebalancing portfolios to optimize returns and keeping a tab on their risk exposures. READ: NASD OTC Ends Flat Over Slowdown in Trading Value
At the closed of the trading session on Friday, NASD OTC market capitalisation printed at ₦1.00 trillion after it shed N30 billion when compared with ₦1.03 trillion opening value due to negative movement in prices.
There was a 799.50% increase in the total value traded during the week as over-the-counter investors traded a total of ₦ 33,801,270 in value compared to ₦ 304,041,977.27 in the previous week.
Thus, total trade activities for the year were valued at ₦ 22,377,966,680.91. Last week’s record showed that the total volume traded during the week was 1,709,221 units compared to 873,608 units in the previous week.
This translates to a 95.65% increase in trade volume when compared with previous trading data, lifting the total volume traded for the year to 3,239,053,155 units.
Niger Delta Exploration & Production PLC ranking top among the five most traded securities by volume and NASD PLC was the fifth most traded stock by volume traded in the week, according to a market report.
Niger Delta Exploration & Production PLC ranking top among the five most traded securities by value and CitiTrust Holdings PLC stood as the fifth most traded Security by value for the week.
CitiTrust Holdings PLC, which currently holds a market capitalisation of ₦11.00 billion closed the week at ₦11.00 representing a 5.77 per cent increase from the previous close of ₦10.40.
On the decliners chart, Friesland Campina Wamco Nigeria PLC, which currently holds a market capitalisation of ₦175.74 billion closed the week at ₦90.00 representing a 13.88 per cent decrease from the previous close of ₦104.50.
NASD PLC, which currently holds a market capitalisation of ₦7.91 billion closed the week at ₦16.19 representing a 9.81 per cent decrease from the previous close of ₦17.95.
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 2.48% while total volume traded in the period settled at 3,239,053,155 units in 1,777 deals and the total value printed at ₦ 22,377,966,680.91. #Market Cap of NASD OTC Falls to N1 Trillion
