NASD Drops as Friesland, UBN Properties Plunge
NASD over-the-counter (OTC) securities exchange index drops following price decline in Friesland Campina Wamco Nigeria Plc, UBN Properties company and Niger Delta Exploration and Production Company whose share plunged significantly, trading data shows.
According to a market report, the NASD OTC securities exchange index tracked lower over negative movement, and return decreased by 0.28% to close the week at 708.32 points against 710.30 brought forward.
The market has been trading in red amidst uncertainties in the local economy. Surprisingly, investors are taking large bets on companies listed in the Nigerian Exchange. Unlike NASD over the counter market, there has been a heavy rally in the stock market.
In the just concluded week, investors lose ₦2.61 billion due to price depreciation in active traded unlisted companies’ shares. Then, the OTC market capitalisation printed lower at ₦930.74 billion compared to ₦933.35 billion in the past week due to negative movement in prices.
There was a 23.58% decrease in the total value traded during the week, according to a market report. The NASD Investors traded a total of ₦32,058,720.60 in value compared to ₦41,951,586.51 in the previous week.
Total trade activity for the year is valued at ₦27,625,740,844.11 while the total volume traded during was 10,402,772 units compared to 1,397,331 units in the previous week. This translates to a 644.47% increase in trade volume week on week while the total volume traded for the year is 3,807,570,306 units.
UBN property Plc ranked top among the five most traded securities by volume and Central Securities Clearing System Plc was the fifth most traded stock by volume traded in the week.
Friesland Campina Wamco Nigeria Plc retains the top among the five most traded securities by value and Central Securities Clearing System Plc was the fifth most traded security by value traded in the week.
The trading record shows that UBN Property Company Plc, which currently holds a market capitalization of ₦4.55 billion closed the week at ₦0.81 representing a 8.99 percent decrease from the previous close of ₦0.89.
Niger Delta Exploration and Production Company Plc, which currently holds a market capitalization of ₦31.74 Billion closed the week at ₦175.00 representing a 3.00 percent decrease from the previous close of ₦180.42.
Fries Campina Wamco Nigeria Plc, which currently holds a market capitalization of ₦64.34 billion closed the week at ₦65.90 representing a 0.90 percent decrease from the previous close of ₦66.50. >>NASD OTC Gains as Friesland, Niger Delta Exploration Rally
Year-to-date performance shows that the NASD OTC securities exchange market closed on a negative. NASD security index returns decreased by 4.65% while the total volume traded year-to-date printed at 3,807,570,306 units in 2587 deals.
As of Friday’s close, the total value traded settled at ₦27,625,740,844.11. NASD Drops as Friesland, UBN Properties Decline
