NASD Securities Index Ends in Red
With persistent negative price movement on unlisted companies’ shares, it was a tough outing in NASD over the counter (OTC) securities exchange market in financial year 2022 as investor recorded losses.
This came in a stark contrast to development seen in the equities market despite 500 basis points increase in benchmark interest rate. In the fixed income space, it was buying momentum for investors managing to balance their portfolios exposures.
Trading data show that NASD OTC exchange ended the year on a negative note over weak sentiment which pushed year-to-date returns downward by 4.47%.
According to market data, total volume traded in the year printed at 3,898,173,423units in 2706 deals and the total value traded settled at ₦28,022,019,824.52
Last week, NASD Index closed the week with a positive movement, market return increased by 0.80% to close at 709.66 points against 704.00 points reported in the pen-ultimate week. Investors gain ₦7.45 billion, which pushed market capitalisation upward to ₦932.51 billion from ₦925.06 billion a week earlier.
According to traders note, there was a 23.05% decrease in the total value traded during the week as investors trade a total of ₦172,335,554.31 versus ₦223,943,426.10 in the previous week.
Accordingly, trading data pegged total trade activity for the year at ₦28,022,019,824.52. The total volume traded during this week was 44,622,398 units compared to 45,980,719 units in the previous.
This translates to a 2.95% decrease in trade volume week on week. However, on cumulative basis, the total volume traded for the year settled at 3,898,173,423 units. >>Nigeria’s Palm Oil Price to Rise
Geo-Fluids Plc ranking top among the five most traded securities by volume and Food Concepts Plc as the fifth most traded stock by volume traded in the week, according to market data.
Niger Delta Exploration and Production Company Plc retained top among the five most traded securities by value and Central Securities Clearing System Plc as the fifth most traded security by value traded in the week.
Then, Niger Delta Exploration and Production Company Plc which currently holds a market capitalisation of ₦35.878 billion closed the week at ₦197.78 representing a 16.27 percent increase from the previous close of ₦170.10
Friesland Campina Wamco Nigeria Plc value at ₦65.78 billion closed the week at ₦67.38 representing a 2.09percent decrease from the previous close of ₦66.00
VFD Group Plc with a market capitalisation worth ₦20.67 billion closed the week at ₦244.00 representing a 0.86percent decrease from the previous close of ₦244.88.
UBN PROPERTY PLC, which currently holds a market capitalization of ₦4.50 billion closed the week at ₦0.80 representing a 1.23percent decrease from the previous close of ₦0.81
Central Securities Clearing System Plc, which currently holds a market capitalisation of ₦62.30 billion closed the week at ₦12.46 representing a 0.08percent decrease from the previous close of ₦12.47. # NASD Securities Index Ends in Red
