NASD Investors Loss Widens on Negative Price Performance
The NASD over-the-counter (OTC) Securities Exchange declines further, offering investors year-to-date negative returns amidst falling interest in naira-denominated financial assets. This is coming at a time listed companies’ shares in Nigerian Exchange are becoming very popular and attractive to investors.
Last week, NASD OTC Securities Exchange Index (NSI) printed red due to price depreciation across unlisted companies’ shares trading on the platform. Trading data show that the NSI return decreased by 0.04% to close the week at 710.30 points compared with 710.58 points in the previous week’s reading.
In sum, investors lost ₦0.36 billion in the last five trading sessions, pulling the plug on the market size. The OTC exchange market capitalisation closed at ₦933.35 billion from ₦933.71 billion in the previous week amidst weak buying sentiments.
There was a 14.65% increase in the total value traded during the week as Investors traded a total of ₦41,951,586.51 in value compared to ₦36,589,912.88 in the previous week.
Thus, total trade activity for the year settled at ₦ 27,593,682,123.51 on Friday. Trading data indicates that the total volume traded last week settled at 1,397,331 units compared to 3,198,639 units in the previous week.
This represents a 56.31% decrease in trade volume week on week, while the total volume traded for the year on a cumulative basis inched to 3,797,167,534.00 units.
UBN property Plc ranked top among the five most traded securities by volume and Niger Delta Exploration and Production Plc as the fifth most traded stock by volume traded in the week.
Friesland Campina Wamco Nigeria Plc ranking top among the five most traded securities by value and Niger Delta Exploration and Production Plc was the fifth most traded security by value traded in the week.
There was no gainer in the market last week, according to trading results.
According to the trading chart, Friesland Campina Wamco Nigeria Plc, which currently holds a market capitalization of ₦64.92 billion closed the week at ₦66.50 representing a 0.20 percent decrease from the previous close of ₦66.63
Capital Bancorp Plc, which currently holds a market capitalization of ₦1.73 billion closed the week at ₦2.26 representing a 23.39 percent decrease from the previous close of ₦2.95
Then, UBN Property Company Plc, which currently holds a market capitalization of ₦4.55 billion closed the week at ₦0.81 representing a 10.99 percent increase from the previous close of ₦0.91. NASD OTC Securities Exchange year to date loss widened due to the weekly losses following a declining performance, according to brokers.
At the close of the trading session on Friday, NASD Security Index Year-to-date returns decreased by 4.38% while total volume traded from the beginning of the year to date printed at 3,797,167,534.00 units in 2547 deals.
The sum of ₦ 27,593,682,123.51 OTC assets have been traded in the exchange from the beginning of the year to date. # NASD Investors Loss Widens on Negative Price Performance