NASD Bumps as Investors Balance Position in Unlisted Shares

NASD Bumps as Investors Balance Position in Unlisted Shares

NASD Bumps as investors balance their holdings position in shares of unlisted companies, according to trading data which shows that turnover weakened. Consequent to the negative outing, market capitalisation declined below the N1 trillion mark to N990 billion on Friday, a relative improvement when compared with N950 billion reported midweek.

The over-the-counter securities exchange market has seen a decline in valuations due to negative movement in prices in some heavyweight unlisted companies’ shares. Last week, there was a 76.12% decrease in the total value traded as investors traded a total of ₦ 34,459,169.50 in value compared to ₦ 144,330,509.90 in the previous week.

According to trading data, total trade activity for the year has inched up to ₦ 26,035,716,798.52 – the cumulative level.  The total volume traded during the week was 200,614 units compared to 9,642,289 units in the previous week.

This translates to a 97.92% decrease in trade volume compared to previous week while the total volume traded for the year settled at 3,265,718,720 units. Niger Delta Exploration & Production PLC ranked top among the five most traded securities by volume and 11 PLC as the fifth most traded stock by volume traded in the week.

The company also ranked top among the five most traded securities by value and 11 PLC stood as the fifth most traded Security by value for the week. There was no advancer, as the Bears took charge of the market, market analysts said.

Niger Delta Exploration & Production PLC, which currently holds a market capitalization of ₦36.28 billion closed the week at ₦200.00 representing a 4.31 per cent decrease from the previous close of ₦209.00.

Friesland Campina Wamco Nigeria PLC, which currently holds a market capitalization of ₦175.74 billion closed the week at ₦90.00 representing a 3.23 per cent decrease from the previous close of ₦93.00. READ: Traders See Steady Yields after Auction Spot Rate Bumps

Year to date, NASD OTC Securities Exchange Market closed on a positive note. NASD Security Index returns increased by 1.83% from the beginning of the year to date. Total volume traded now printed at 3,265,718,720 units in 2,021 deals and the total Value traded inched up to ₦ 26,035,716,798.52.

NASD OTC Securities Exchange Index ended with a negative movement on the NSI; return decreased by 0.75% to close the week at 756.43 points against 762.12 the previous week. # NASD Bumps as Investors Balance Position in Unlisted Shares