NASD OTC Market Tanks as UBN Property, CSCS, Friesland Plunge
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NASD OTC Market Tanks as UBN Property, CSCS, Friesland Plunge

Amidst uncertainties in the economy, the NASD Over-the-counter (OTC) securities exchange market tanked due to adverse price movements in some unlisted companies’ shares.

In the just concluded week, the NASD investors recorded a ₦2.36 billion decline in the value of their stocks while key performance indicators slide.

Consequently, the NASD OTC Securities Exchange Index return decreased by 0.25% to close the week at 720.36 points against 722.16 in the previous week.

The OTC market witnessed selling rallies that boxed the market value of unlisted companies’ stocks from making an upward rerating, brokers stated in their reports.

Trading data show that the NASD OTC market capitalisation closed at ₦948.30 billion from ₦950.66 billion in the previous week due to negative price movement.

There was a 66.45% decrease in the total value traded, according to trading data. In the week, the NASD investors’ cumulative transactions for the week printed lower ₦14,068,239.87 compared to ₦41,932,263.68 in the previous week.

Then, total trade activity for the year however inched upward to ₦ 27,214,285,607.41. Trading data also showed that the total volume traded during the week was 341,550 units compared to 1,055,228 units in the previous week.

This translates to a 67.63% decrease in trade volume week on week. Then, market data indicates that total volume traded for the year has inched to 3,486,134,769 units.

UBN Property 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.

Niger Delta Exploration & Production Plc ranked top among the five most traded securities by value and UBN Property Plc stood as the fifth most traded Security by value for the week.

At a market capitalisation of ₦7.19 billion, shares of NASD Plc closed the week at ₦14.72 representing a 5.14 percent increase from the previous close of ₦14.00.

In the same vein, UBN Property Plc, which currently holds a market capitalization of ₦5.68 billion closed the week at ₦1.01 representing a 9.82 percent decrease from the previous close of ₦1.12.

Also, Central Securities Clearing System Plc, which currently holds a market capitalization of ₦67.50 billion closed the week at ₦13.50 representing a 2.88 percent decrease from the previous close of ₦13.90

At a market capitalisation of ₦68.29 billion, Friesland Campina Wamco Nigeria Plc closed the week at ₦69.95 representing a 0.07 percent decrease from the previous close of ₦70.00. READ: NASD Up N12.15bn over Gain in Friesland, Niger Delta Exploration

Year to date, the NASD OTC Securities Exchange is on negative trading as market returns decreased by 3.03%. Total volume traded from the beginning of the year to date now stands at 3,486,134,769 units in 2,337 deals.

The total value traded inched higher to ₦27,214,285,607.41 ON Friday from the beginning to the year record. # NASD OTC Market Tanks as UBN Property, CSCS, Friesland Plunge

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