NASD Sees Moderate Gain After Losing Streaks
Investors trading shares of unlisted companies’ on NASD over-the-counter (OTC) securities exchange see a moderate capital gain in the just concluded week as market sentiments popped higher.
Following a moderate price appreciation registered, the OTC investors gain ₦0.05 billion, thus pushing market capitalisation up to ₦935.12 billion from ₦935.07 billion at the beginning of the week.
Investors’ wealth had bled due to price depreciation over the past week, dragging the market cap below the N1 trillion mark. READ: Market Cap of NASD OTC Falls to N1 Trillion
The OTC Securities Exchange Index closed the week with a positive movement, increasing by 0.01% to close the week at 711.66 points against 711.61 record seen in the previous week.
There was a 63.92% decrease in the total value traded during the week. Investors traded a total of ₦37,491,621.00 in value compared to ₦103,907,121.85 in the previous week. Meanwhile, total trade activity for the year closed at ₦27,515,140,624.12 on Friday.
The total volume traded during the week printed at 1,430,766 units compared to 68,739,902 units in the previous week.
This translates to a 97.92% decrease in trade volume compared to the level of transactions reported in the previous week. Thus, the total volume traded for the year inched to 3,792,571,564 units.
UBN property Plc ranking top among the five most traded securities by volume, according to trading results. Afriland Properties Plc was the fifth most traded stock by volume traded in the week.
Friesland Campina Wamco Nigeria Plc ranking top among the five most traded securities by value and Afriland Properties Plc was the fifth most traded security by value traded in the week.
UBN Property Plc, which currently holds a market capitalisation of ₦5.57 billion closed the week at ₦1.00 representing a 1.01 percent increase from the previous close of ₦0.99.
Year to date, the NASD OTC securities exchange market closed on a negative note over a persistent decline in market performance. Trading data indicates that thus far, NASD Index’s year-to-date return has decreased by 4.20%.
Overall, total volume traded year-to-date stood at 3,792,571,564 units on Friday in 2451 deals while the total value of these transactions settled at ₦27,515,140,624.12. # NASD Sees Moderate Gain after Losing Streaks