NASD Securities Exchange Struggles to Upturn Downturn
The NASD Securities Exchange has continued to struggle to upturn its week-on-week downturn that has reduced the over-the-counter (OTC) market valuation below N940 billion.
Due to the weak buying interest in the OTC market, year to date return has turned negative amidst a similar price depreciation in the Nigerian Exchange market.
Data from the OTC exchange showed that the NASD OTC Securities Exchange Index return decreased by 0.45% to close the week at 711.61 points against 714.80 reported in the previous week.
At the close of the trading session, the NASD investors lose summed up to ₦4.18 billion, dragging market capitalization lower to ₦935.07 billion from ₦939.25 billion from the previous week,
The trading result indicates a 34.84% decrease in the total value traded during the week as Investors exchanged a total of ₦103,907,121.85 compared to ₦159,456,273.86 in the previous week.
Hence, total trade activity for the year printed at ₦ 27,477,649,003.12. Also, the total volume traded last week printed at 68,739,902 units compared to 236,266,127 units in the previous week.
This translates to a 70.91% decrease in trade volume week on week while the total volume traded for the year increased to 3,791,140,798 units. READ: Stocks prices fast declining, but there is value in the bad news
According to market data, UBN Property PLC ranked 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 company (UBN Property Plc) ranked top among the five most traded securities by value and Niger Delta Exploration & Production Plc stood as the fifth most traded Security by value for the week.
The trading result for the week indicates that Friesland Campina Wamco Nigeria Plc, which currently holds a market capitalization of ₦65.41 billion closed the week at ₦67.00 representing a 0.87 percent increase from the previous close of ₦66.42.
NASD Plc, which currently holds a market capitalization of ₦7.23 billion closed the week at ₦14.79 representing a 0.48 percent increase from the previous close of ₦14.72.
At a market capitalisation of ₦5.57 billion, UBN Property Plc closed the week at ₦0.99 representing a 1.02percent increase from the previous close of ₦0.98.
11Plc, which currently holds a market capitalisation of ₦55.89 billion closed the week at ₦155.00 representing a 8.82 percent decrease from the previous close of ₦170.00.
Overall, year-to-date data indicates that the NASD OTC Securities Exchange market closed on a negative, weak market performance due to lower sentiment.
NASD Security Index Year-to-date returns decreased by 4.21% while total volume settled at 3,791,140,798 units in 2416 deals and the total value traded is ₦ 27,477,649,003.12. # NASD Securities Exchange Struggles to Upturn Downturn