NASD OTC Gains on Market Movers Price Appreciation
As the trading pattern shifted from volume to value-driven, the NASD over-the-counter (OTC) market gained more than N5 billion in the just concluded week as demand for unlisted companies’ shares improved.
There was buying interest in Friesland Campina while some counters recorded sell down, though share price appreciation in market movers outweigh the decrease in prices of some unlisted companies’ stocks.
Demand by treasure hunters in space caused the NASD OTC Securities Exchange Index (NSI) to close the week with a positive. Market data shows that the NSI return had a 0.86% change, to close the week at 734.16 points against 730.61 the previous week’s close.
In sum, the NASD investors gain ₦5.31 billion value in as market capitalization inched up to ₦621.67 billion from ₦618.66 Billion last week due to positive movement in prices.
Trading data from the OTC market shows that there was a 250.27% increase in the total value traded during the week.
NASD Investors trade a total of ₦158,557,651.55 in value compared to ₦45,266,941.51 in the previous week, according to market data.
Consequent to the improvement witnessed in the space, total trade activity for the year edged high to settle at ₦14,889,405,068.63.
Total volume traded during the week printed at 10,663,905 units on Friday compared to 33,928,953 units in the previous week leading to a 68.57% decrease in trade volume.
NASD OTC data however shows that the total volume traded for the year is 731,146,517 units.
The week closed with NASD Plc ranking top among the five most traded securities by volume and Afriland Properties Plc as the fifth most traded stock by volume traded in the week.
Also, NASD Plc ranked top among the five most traded securities by value and NIPCO Plc stood as the fifth most traded Security by value for the week. READ: NASD OTC Ends Flat Over Slowdown in Trading Value
Friesland Campina Wamco Nigeria Plc, which currently holds a market capitalisation of ₦122.19 billion closed the week at ₦125.16 representing a 1.76 per cent increase from the previous close of ₦123.00.
NASD Plc, which currently holds a market capitalisation of ₦4.64 Billion closed the week at ₦10.45 representing a 25.75 per cent increase from the previous close of ₦8.31.
Top Decliners for the Year
Central Securities Clearing System Plc, which currently holds a market capitalisation of ₦92.00 billion closed the week at ₦18.40 representing a 0.05 per cent decrease from the previous close of ₦18.41.
NASD OTC Securities Exchange Market closed on a negative note year to date as the market recorded a decrease in performance.
Thus, NASD Security Index year-to-date returns decreased by 1.76% as total volume traded Year-to-Date stands at 731,146,517 units in 454 deals and the total value traded is ₦14,889,405,068.63. #NASD OTC Gains on Market Movers Price Appreciation