NASD Return Turns Red on Negative Price Movements
The over-the-counter (OTC) exchange for trading unlisted companies’ shares, NASD, drops by more than N20 billion this week, forcing its market capitalisation below N980 billion while year to date return turns red.
NASD OTC Securities Exchange Index (NSI) closed negative as the NSI return decreased by 2.01% to 741.09 points against 756.33 points week on week. The decline was attributed to sustained selloffs in shares of some lightweight unlisted companies amidst Nigeria’s rising headline inflation rate.
Investors across the financial markets are scrambling for a higher return to reduce naira assets risk. In the week, investors lose ₦20.07 billion in value while NASD OTC market capitalization closed at ₦975.57 billion compared to ₦995.64 billion in the previous week due to negative movement in prices.
Further insight indicates that there was a 1323.99% increase in the total value traded during the week, according to traders. Investors traded a total of ₦ 490,695,423.17 in value compared to ₦ 34,459,169.50 in the previous week. Hence, the total trade activity for the year inched to ₦ 26,526,412,221.69.
The total volume traded during the week was 190,101,764 units compared to 200,614 units in the previous week. This figure translates to a 94,659.97% increase in trade volume compared to the previous week’s trading record.
Now, the total volume traded for the year has increased cumulatively to 3,455,820,484 units. Mixta Real Estate Plc ranking top among the five most traded securities by volume and Food Concepts Plc was the fifth most traded stock by volume traded in the week.
Also, the real estate company ranked top among the five most traded securities by value and Friesland Campina Wamco Nigeria Plc stood as the fifth most traded Security by value for the week.
11 PLC, which currently holds a market capitalization of ₦64.90 billion closed the week at ₦180.00 representing a 5.88 per cent increase from the previous close of ₦170.00. At a market capitalisation of N11.26 billion, NIPCO PLC closed the week at ₦60.00 representing a 3.45 per cent increase from the previous close of ₦58.00.
CITITRUST HOLDINGS PLC, which currently holds a market capitalization of ₦13.50 billion closed the week at ₦13.50 representing a 3.05 per cent increase from the previous close of ₦13.10.
AFRILAND PROPERTIES PLC, which currently holds a market capitalization of ₦1.67 billion closed the week at ₦1.22 representing a 10.91 per cent decrease from the previous close of ₦1.10
NASD PLC, which currently holds a market capitalization of ₦6.10 billion closed the week at ₦12.50 representing a 19.87 per cent decrease from the previous close of ₦15.60.
FRIESLAND CAMPINA WAMCO NIGERIA PLC, which currently holds a market capitalization of ₦70.08 billion closed the week at ₦81.00 representing a 10.00 per cent decrease from the previous close of ₦90.00.
Also, at a market capitalization of ₦67.50 billion, CENTRAL SECURITIES CLEARING SYSTEM PLC closed the week at ₦13.50 representing a 6.25 per cent decrease from the previous close of ₦14.40.
NIGER DELTA EXPLORATION & PRODUCTION PLC, which is valued at ₦35.37 Billion closed the week at ₦195.00 representing a 2.50 per cent decrease from the previous close of ₦200.00. READ: NASD Inches to N1.03trn on Positive Price Movements
While UBN PROPERTY PLC which is currently valued at ₦6.30 billion closed the week at ₦1.12 representing a 1.75 per cent decrease from the previous close of ₦1.14. Year to date, NASD OTC Securities Exchange closed on a negative note as the market recorded a decrease in performance.
NASD Security Index Year-to-date returns decreased by 0.83% as total volume traded Year-to-Date stands at 3,455,820,484 units in 2,073 deals and the total Value traded is ₦ 26,526,412,221.69. # NASD Return Turns Red on Negative Price Movements
