NASD Securities Exchange Steadies, Return Eclipsed by Inflation
The NASD Over-the-counter (OTC) market year-to-date (YTD) return was steady following a moderate gain on unlisted companies’ shares traded in the just concluded week.
In sum, since the beginning of 2022, the over-the-counter performance is exposed to rising headline inflation, making capital appreciation on the combined value of all unlisted companies’ shares unimpressive.
Though the OTC market return is positive, the figure is only trailing the 18.60% headline inflation rate, a similar trend seen in the Nigerian Exchange where selloffs on listed companies’ shares have forced the local bourse to give up earlier gain.
Stockbrokers told MarketForces Africa that has been some portfolio rebalancing. At the close of the trading session in the over-the-counter securities exchange last week, the index was on positive movement due to slight price appreciation in shares of unlisted companies.
Trading data show that the NAS Securities Index (NSI) return increased by 0.12% to close the week at 762.18 points against 761.27 in the previous week. Investors gained ₦1 billion in value, which lifted the NASD OTC market capitalisation higher to ₦1.00 Trillion, though traders said positive movement in prices had little impact on valuation.
There was a 53.07% decrease in the total value traded in the just concluded week, investors trade a total of ₦142,680,612.71 in value compared to ₦ 304,041,977.27 in the previous week.
Total trade activity for the year printed at ₦ 22,520,647,293.62 while the total volume traded during the week was 1,820,637 units compared to 1,709,221 units in the previous week. READ: Input Costs Pressures Eclipsed Private Sector Performance -PMI
This translates to a 6.52% increase in trade volume week on week as the total volume traded for the year settled at 3,240,873,792 units. Food Concepts PLC ranked top among the five most traded securities by volume and Afriland PLC was the fifth most traded stock by volume traded in the week.
Last week, Niger Delta Exploration & Production PLC ranked top among the five most traded securities by value and Cititrust Holdings PLC stood as the fifth most traded Security by weight for the week.
Cititrust Holdings PLC, which currently holds a market capitalisation of ₦11.90 billion closed the week at ₦11.90 representing a 8.18 per cent increase from the previous close of ₦11.00.
Afriland PLC, which currently holds a market capitalisation of ₦1.51 billion closed the week at ₦1.10 representing a 7.84 per cent increase from the previous close of ₦1.02.
Friesland Campina Wamco Nigeria PLC, which currently holds a market capitalisation of ₦176.42 billion closed the week at ₦90.35 representing a 0.39 per cent increase from the previous close of ₦90.00.
Food Concept PLC, which currently holds a market capitalisation of ₦5.31 billion closed the week at ₦0.91 representing a 4.21 per cent decrease from the previous close of ₦0.95.
Niger Delta Exploration & Production PLC, which currently holds a market capitalization of ₦38.06 billion closed the week at ₦209.84 representing a 0.65 per cent decrease from the previous close of ₦211.22.
Shares of NASD PLC, which currently holds a market capitalisation of ₦7.90 billion closed the week at ₦16.18 representing a 0.06 per cent decrease from the previous close of ₦16.19.
Year to date, the NASD OTC securities exchange market closed on a positive note as the market recorded an increased performance.
NASD security index year-to-date returns increased by 2.60%. Total volume traded Year-to-Date stands at 3,240,873,792 units in 1,840 deals and the total value traded inched to ₦ 22,520,647,293.62. #NASD Securities Exchange Steadies, Return Eclipsed by Inflation