NASD Loses N23bn as Investors Dump Unlisted Shares
Investors trading unlisted companies’ shares on the NASD Securities Exchange platform lost more than N23 billion to hefty selloffs in the over-the-counter (OTC) market, according to data.
Last week, the NASD OTC securities exchange index ended on a negative movement, resulting in a 2.37% decline in NSI return which closed at 723.56 points against 741.09 on Friday from the previous week.
This depicts a similar pattern seen in the Nigerian Exchange which has seen sustained selloffs amidst rising yield in the fixed income as inflation, and interest rates rise.
Investors’ lose ₦23.06 billion impacted the NASD OTC Market capitalization, closing lower at ₦952.51 billion compared to ₦975.57 billion from the previous week due to negative movement in prices.
There was a 69.17% decrease in the total value traded last week, trading data shows. NASD Investors trade a total of ₦151,258,398.80 in value compared to ₦490,695,423.17 in the previous week.
Total trade activity for the year inched to ₦ 26,677,670,620.49 while total volume traded last week was 25,339,231 units compared to 190,101,764 units in the previous week.
This translates to 86.67% drop in trade volume compared to previous week’s position as the total volume traded for the year printed at 3,481,159,715 units. READ: NASD Tumbles over Selloffs in Unlisted Companies Shares
According to trading data, Nigerian Mortgage Refinance Company Plc ranking top among the five most traded securities by volume and Niger Delta Exploration & Production Plc as the fifth most traded stock by volume traded in the week.
Also, Nigerian Mortgage Refinance Company Plc ranking top among the five most traded securities by value and Central Securities Clearing System Plc stood as the fifth most traded Security by value for the week.
Nigerian Mortgage Refinance Company Plc, which currently holds a market capitalization of ₦1.11 billion closed the week at ₦5.24 representing a 9.62 percent increase from the previous close of ₦4.78
NASD Plc, which currently holds a market capitalization of ₦6.35 billion closed the week at ₦13.00 representing a 4.00 percent increase from the previous close of ₦12.50.
At a market capitalisation of N36.10 billion, Niger Delta Exploration & Production Plc closed the week at ₦199.00 representing a 2.05 percent increase from the previous close of ₦195.00.
Friesland Campina Wamco Nigeria Plc, which currently holds a market capitalization of ₦71.27 billion closed the week at ₦73.00 representing a 9.88 percent decrease from the previous close of ₦81.00.
Central Securities Clearing System Plc, which currently holds a market capitalization of ₦62.65 billion closed the week at ₦12.53 representing a 7.19 percent decrease from the previous close of ₦13.50.
Also, 11 Plc, which currently holds a market capitalization of ₦61.30 billion closed the week at ₦170.00 representing a 5.56 percent decrease from the previous close of ₦180.00.
Food Concepts Plc, which currently holds a market capitalization of ₦5.25 billion closed the week at ₦0.90 representing a 1.10 percent decrease from the previous close of ₦0.91.
Year to date, the NASD OTC securities exchange market closed on a negative note as the market recorded a decrease in performance.
Trading data from the beginning of the year to date show that the NASD Security Index return has decreased by 2.60%. Meanwhile, year to date, the cumulative total volume traded printed at 3,481,159,715 units in 2,119 deals and the total Value traded is ₦ 26,677,670,620.49. # NASD Loses N23bn as Investors Dump Unlisted Shares#
