NASD OTC Ends Negative as Niger Delta Exploration, NIPCO Shed Weight
Shares of unquoted public companies transacted via the National Association of Securities Dealers over-the-counter (NASD OTC) dropped off last week amidst weaker investors’ sentiment, a possible spillover from the Nigerian economic condition.
In part, declined market performance was propelled by price depreciation in Niger Delta Exploration and Production, NIPCO and Friesland Campina Wamco pullback NASD performance, as the securities index closed on a negative note.
Trading records show that investors lost ₦10.98 billion in value, as market capitalisation closed lower at ₦604.88 billion compared to ₦615.86 billion on Friday, December 3, 2021, resulting from a negative movement in prices.
Meanwhile, NASD OTC Securities Exchange Index closed the week on a negative return. According to the market report, there was an 85.33% increase in the total value transacted in the just concluded, albeit, not enough to upturn the negative position.
Data shows that NASD Investors traded a total of ₦155,768,149.95 in value compared to ₦84,051,034.66 in the previous week while total trade activity for the year is valued at ₦30,213,134,648.66.
The total volume of companies stocks that were traded during the week totalled 6,571,340 units compared to 23,358,261 units in the previous week, representing a 71.87% decrease in trade volume when compared with the previous week.
Looking at the over-the-counter securities exchange from year to date, the market appears to be on a negative note due to a decrease in performance.
Market data shows that NASD Security Index (NSI) year to date returns has decreased by 1.28% amidst weaker investors’ sentiment in the festive month.
Specifically, the total volume traded on the platform year-to-date has printed at 12,822,484,661 units in 4907 deals with total value traded settling at ₦30,213,134,648.66.
According to the market report, the NSI return dropped off by 1.78% to close the week at 732.15 points against 745.44 on Friday, December 3, 2021. However, the total volume traded for the year hits 12,822,484,661 units.
Central Securities Clearing System PLC ranks top among the five most traded securities by volume and Friesland Campina Wamco Nigeria PLC as the fifth most traded stock by volume traded in the week.
On the other hand, the Central Securities Clearing System PLC ranked top among the five most traded securities by value and Niger Delta Exploration & Production PLC stood as the fifth most traded Security by value for the week.
Market data shows that Central Securities Clearing System PLC, which currently holds a market capitalization of ₦88.75 billion ended the ₦17.75 representing a 1.43 per cent increase from the previous close of ₦17.50.
NASD PLC, which currently holds a market capitalisation of ₦11.99 billion closed the week at ₦27.00 representing a 0.04 per cent increase from the previous close of ₦26.99.
Decliners for the Week
Friesland Campina Wamco Nigeria PLC, which currently holds a market capitalisation of ₦107.39 billion closed the week at ₦110.00 representing a 9.10 per cent decrease from the previous close of ₦121.00.
NIPCO PLC, which currently holds a market capitalisation of ₦13.13 billion closed the week at ₦70.00 representing a 9.10 per cent decrease from the previous close of ₦77.00.
Niger Delta Exploration & Production PLC, which currently holds a market capitalisation of ₦41.36 billion closed the week at ₦228.00 representing a 0.43 per cent decrease from the previous close of ₦228.99. #NASD OTC Ends Negative as Niger Delta Exploration, NIPCO Shed Weight
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