NASD Index Slumps over Negative Price Movements

NASD Index Slumps over Negative Price Movements

NASD over-the-counter (OTC) securities exchange market slipped by about N11.5 billion as of Friday’s close over negative price movement, driven by weak buying interest.

The OTC market has been trading negatively since last year when investors’ wealth in unlisted companies’ shares went down by about 5%, in stark contrast to the roaring bulls run in the equities market.

On Friday, the securities exchange market closed on a negative note year to date as the market recorded a weak outturn.  Trading data indicates that NASD security index year-to-date returns decreased by 0.530%.

Total volume traded from the beginning of the year to date inched to 25,779,719units in 176 deals while the transaction total value traded settled at ₦ 171,247,475.12

The NASD Securities index return decreased by 1.22% to close the week at 705.87 points against 714.60 reported in the previous week. Thus, NASD Investors lost ₦11.45 billion as market capitalization slumped to ₦927.53 billion from ₦938.98 billion in the previous week due to sustained price down in OTC listed assets.

Market data indicates that there was a 52.74% decrease in the total value traded during the week. Investors transacted a total of ₦54,955,194.38 compared to ₦116,292,280.74 in the previous week.

Total trade activity for the year printed at ₦171,247,475.12 on Friday. The record shows that 24,859,382 units were traded compared to 920,337 units in the previous week.

This translates to a 2,601.12% increase in trade volume. The total volume traded for the year is 25,779,719 units. In the week, Geo Fluids Plc ranked top among the five most traded securities by volume.

Meanwhile, Niger Delta Exploration and Production Plc was the fifth most traded stock by volume traded in the week. Also, Geo Fluids Plc is top among the five most traded securities by value and UBN property company Plc was the fifth during the week. # NASD Index Slumps over Negative Price Movements

>>>NASD Index Rises as Investors Gain N6.5bn

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