NASD Returns 4.17%, Market Sees Negative Movement in Prices
Year to date return on unlisted stocks trading on NASD Over-the-counter market hits 4.17% last week over selloffs among over 42 securities admitted on the platform traded by 238 registered brokers.
The unlisted market year to date undercut more than 20% returns in the Nigerian equities market. The negative price movements seen dragged the NASD OTC Securities Exchange Index lower, according to market data, with a negative movement on the NSI, keeping the over-the-counter market return largely unimpressive.
In particular, market report for the week shows that the NSI return decreased by 0.03% to close the week at 773.79 points against 774.03 on levels seen in the previous week.
Last week, the NASD Investors lose ₦0.03 trillion, thus dragging the entire market capitalisation lower due to selloffs of unlisted shares of Central Securities Clearing System Plc.
Market capitalization then settled at ₦1.02 trillion while the over-the-counter market announced the retirement of its managing director, Bola Ajomale.
Trading data shows that there was a 1778.70% increase in the total value traded last week as investors transacted a total of ₦637,849,607.86 in value compared to ₦33,951,566.75 in the previous week.
Total trade activity for the year printed at ₦21,929,119,243.15 while total volume traded settled at 43,464,215 units compared to 942,570 units in the previous week.
This translates to a 4511.25% increase in trade volume compared to the previous week’s close. The total volume traded for the year inched upward to 3,228,610,554 units.
CitiTrust Holdings PLC ranked top among the five most traded securities by volume and VFD Group PLC was the fifth most traded stock by volume traded in the week. READ: NASD Tumbles over Massive Selloffs in Unlisted Stocks
CitiTrust Holdings PLC ranked 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.
In terms of value, CitiTrust Holdings PLC, which currently holds a market capitalisation of ₦8.00 billion closed the week at ₦8.00 representing a 16.79 per cent increase from the previous close of ₦6.85.
NASD PLC, which currently holds a market capitalisation of ₦8.83 billion closed the week at ₦18.09, representing a 9.64 per cent increase from the previous close of ₦16.50.
Niger Delta Exploration & Production PLC, which currently holds a market capitalisation of ₦39.36 billion closed the week at ₦217.00 representing a 3.33 per cent increase from the previous close of ₦210.00.
Central Securities Clearing System PLC, which currently holds a market capitalisation of ₦72.55 billion closed the week at ₦14.51 representing a 0.76 per cent decrease from the previous close of ₦14.40.
NIPCO PLC, which currently holds a market capitalisation of ₦10.69 billion closed the week at ₦57.00, a 3.14 per cent decrease from the previous close of ₦58.85.
Friesland Campina Wamco Nigeria PLC, which currently holds a market capitalization of ₦195.46 billion closed the week at ₦100.10 representing a 1.86 per cent decrease from the previous close of ₦102.00.
Amidst expectation of an improved outlook in the second half of 2022, the NASD OTC Securities Exchange market closed positive year to date due to improved trading patterns.
Market return hits 4.17% as total volume traded year-to-date printed at 3,228,610,554 units in 1,585 deals and the total value traded amounted to ₦ 21,929,119,243.15. # NASD Return 4.17%, Market Sees Negative Movement in Prices
