NASD Inches to N1.03trn on Positive Price Movements
The NASD over-the-counter (OTC) inched higher to N1.03 trillion at the end of the trading session last week due to positive price movements on unlisted companies’ shares.
A number of unlisted companies’ shares trading on the over-the-counter market have been descending for weeks but there is a breather in the just concluded with price appreciations in Friesland Campina, Cititrust Holdings etc.
The latest data from the market for trading unlisted companies’ shares shows that investors gain N20 billion as the Securities Exchange Index closed with a positive movement, according to the latest trading session.
In relative terms, the NSI return increased by 2.10% last week to close at 783.05 points against 766.92 from the previous week. The positive momentum impacted the over-the-counter market valuation.
As of Friday, NASD OTC market capitalisation was bolstered to ₦1.03 trillion, rising from ₦1.01 trillion in the week due to positive movement in prices. There was a 62.27% decrease in the total value traded as NASD OTC investors traded a total of ₦33,801,270 compared to ₦ 89,596,950.78 in the previous week.
Total trade activity for the year printed at ₦22,073,924,703.64 while the total volume traded last week was 873,608 units compared to 4,167,482 units in the previous week. This translates to a 79.04% decrease in trade volume week on week while the total volume traded for the year settled at 3,237,343,934 units.
Central Securities Clearing System Plc ranking top among the five most traded securities by volume and Friesland Campina Wamco Nigeria PLC was the fifth most traded stock by volume traded in the week.
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.
Friesland Campina Wamco Nigeria Plc which currently holds a market capitalisation of ₦204.05 billion closed the week at ₦104.50 representing a 11.00 per cent increase from the previous close of ₦94.14. CitiTrust Holdings Plc, which currently holds a market capitalisation of ₦10.40 billion closed the week at ₦10.40 representing a 9.47 per cent increase from the previous close of ₦9.50.
At a market Capitalisation of ₦38.31 billion, Niger Delta Exploration & Production Plc, closed the week at ₦211.22 representing a 0.58 per cent increase from the previous close of ₦210.00. On the losers’ chart, NASD Plc with a market capitalisation of ₦8.77 billion closed the week at ₦17.95 representing a 0.77 per cent decrease from the previous close of ₦18.15.
Also, Central Securities Clearing System Plc, which currently holds a market capitalisation of ₦74.55 billion closed the week at ₦14.91 representing a 0.07 per cent decrease from the previous close of ₦14.92. READ: T-Bills Yield Slides 7bps as Spot Rate on 364-Day Falls
From the beginning of the year to date data shows that the NASD OTC Securities Exchange market closed on a positive note following a record increase in trading performance. Thus, the NASD Security Index return has increased by 5.41% as of seven month close.
As of Friday, the total volume traded year-to-date settled at 3,237,343,934 units in 1,734 deals and the total value traded inched upward to ₦ 22,073,924,703.64.