NASD Investors Lose N10.27bn as OTC Market Tumbles
Investors trading shares of unlisted companies saw their net worth decline by N10.27 billion on the back of negative trade patterns in the over-the-counter (OTC) market.
Trading data shows the OTC market capitalisation is at distant to its previous N1 trillion mark, closed at ₦958.33 billion on Friday from ₦968.60 billion in the comparable week due to negative movement in prices.
Consequently, the NASD Securities Index return decreased by 1.06% to close the week at 727.98 points against 735.79 reported in the previous week.
There was a 76.06% increase in the total value traded. Last week’s trading data showed that Investors transacted a total of ₦92,994,032.87 in value compared to ₦52,819,820.80 in the previous week.
Hence, total trade activity for the year now settle at ₦ 26,823,484,474.16 while the total volume traded during the week was 708,644 units compared to 571,164 units in the previous week.
This translates to a 24.07% increase in trade volume against the comparable week’s transaction record. Cumulatively, the total volume traded for the year expanded to 3,482,439,523 units.
Last week, 11Plc ranking top among the five most traded securities by volume and Afriland Properties Plc was the fifth most traded stock by volume traded in the week. READ:NASD OTC Ends Flat Over Slowdown in Trading Value
Also, 11Plc ranking top among the five most traded securities by value and Famad Nigeria Plc stood as the fifth most traded Security by value for the week.
Afriland Properties Plc, which currently holds a market capitalization of ₦1.71 billion closed the week at ₦1.25 representing a 2.46 percent increase from the previous close of ₦1.22
Friesland Campina Wamco Nigeria Plc, which currently holds a market capitalisation of ₦71.42 billion closed the week at ₦73.15 representing a 6.22 percent decrease from the previous close of ₦78.00.
Central Securities Clearing System Plc, which currently holds a market capitalization of ₦70.00 billion closed the week at ₦14.00 representing a 1.20 percent decrease from the previous close of ₦14.17.
From the beginning of the year to date, the NASD OTC Securities Exchange market ended on a negative note following the declining market performance.
Amidst the downturn, NASD security index returns decreased by 2.00% year to date while total volume traded in the same period printed at 3,482,439,523 units in 2,208 deals.
The total value traded on the NASD Exchange inched to ₦ 26,823,484,474.16, according to trading data for the week.
# NASD Investors Lose N10.27bn as OTC Market Tumbles#
