NASD Shrinks N20bn as Market Priced Down Shares
The NASD OTC Securities Exchange Index closed the week with a negative movement due to price depreciation in unlisted companies’ shares, a consolidation of the previous selloffs that ravaged the market.
A rising inflation worry is putting pressure on investing moods in Nigeria as the consumer price index rose to 18.60% in June with a bleak outlook on the local currency, the naira.
Due to the selloffs witnessed last week, the OTC security exchange index (NSI) return decreased by 0.22% to close the week at 772.08 points against 773.79 in the previous week.
Consequent to the price down, investors lose ₦20 billion as the NASD OTC market capitalisation closed at ₦1.02 Trillion. The reduced market value was due to a negative movement in prices as well as a markdown in the price of Niger Delta Exploration & Production PLC.
There was a 96.64% decrease in the total value traded, according to trading data. NASD investors traded a total of ₦21,407,239.55 in value compared to ₦637,849,607.86 in the previous week.
Total trade activity for the year closed at ₦21,950,526,482.70 while the total volume traded during the week was 3,692,290 units compared to 43,464,215 units in the previous week, translating to a 91.50% decrease in trade volume.
Thus, the total volume traded for the year settled at 3,232,302,844 units. Capital Bancorp PLC ranking top among the five most traded securities by volume and Central Securities Clearing System PLC was the fifth most traded stock by volume traded in the week.
Also, the company ranked top among the five most traded securities by value and CitiTrust Holdings PLC stood as the fifth most traded Security by value for the week. READ: NASD Investors Lose N20bn as CSCS, Friesland Top Decliners
In terms of value, Capital Bancorp PLC, which currently holds a market capitalisation of ₦2.26 billion closed the week at ₦2.95 representing a 4.24 percent increase from the previous close of ₦2.83.
Friesland Campina Wamco Nigeria PLC, which currently holds a market capitalisation of ₦200.14 billion closed the week at ₦102.50 representing a 2.40 percent increase from the previous close of ₦100.10.
Niger Delta Exploration & Production PLC, which currently holds a market capitalisation of ₦39.36 billion closed the week at ₦197.00 representing a 9.22 percent decrease from the previous close of ₦217.00.
Central Securities Clearing System PLC, which currently holds a market capitalisation of ₦72.55 billion closed the week at ₦13.83 representing a 4.69 percent decrease from the previous close of ₦14.51.
Year to date, NASD OTC Securities Exchange market closed on a positive note as the market recorded an increase in performance. NASD Security Index Year-to-date returns increased by 3.93%.
Total volume traded Year-to-Date stands printed at 3,232,302,844 units in 1,619 deals and the total value traded worth ₦ 21,950,526,482.70, according to market data. # NASD Shrinks N20bn as Market Priced Down Shares
