NASD OTC Market Cap Dips as Investors Lose N3.24 Bln
The NASD Over-the-Counter (OTC) dipped at the just concluded week as unlisted companies shares prices track lower, according to trading data.
The slowdown reported in the alternative market for unlisted companies was driven by sell-offs in Central Securities Clearing System shares which lost N1.50 last week.
Meanwhile, investors spotted value in Food Concepts, Friesland Campina and Afriland Property report an increase in share price at the over-the-counter market.
Consequently, the NASD OTC Securities Exchange Index closed the week on a negative return on NSI. Specifically, the NSI return decreased by 0.51% to close the week at 742.00 points against 745.82 on Friday, January 28, 2022.
Market data shows that NASD Investors lose ₦3.24 billion of the opening value in the five trading sessions. Thus, market capitalization closed at ₦628.31 billion compared to ₦631.55 billion in the comparable week, resulting from a negative movement in prices.
There was a 56.05% decrease in the total value traded during the week, as Investors trade a total of ₦50,604,149.5 in value compared to ₦115,139,715.87 in the previous week.
Total trade activity for the year is valued at ₦14,266,508,394.97, according to NASD OTC trading data obtained by MarketForces Africa.
Read: NASD Investors See N2.69 Bln Gain First Week in 2022
Measuring the temperature in the market, the total volume traded during the week was 1,937,586 units compared to 4,993,848 units in the previous week leading to a 61.20% decrease in trade volume compared to the previous week.
The total volume traded for the year is 661,823,994 units, market data shows.
Food Concepts Plc ranked top among the five most traded securities by volume and Niger Delta Exploration & Production Plc as the fifth most traded stock by volume traded in the week.
Friesland Campina Wamco Nigeria Plc ranked top among the five most traded securities by value and Food Concepts Plc stood as the fifth most traded Security by value for the week.
Afriland Properties Plc, which currently holds a market capitalisation of ₦1.48 billion closed the week at ₦1.08 representing a 0.94 per cent increase from the previous close of ₦1.07.
NASD Plc, which currently holds a market capitalisation of ₦4.86 billion closed the week at ₦10.96 representing a 26.44 per cent decrease from the previous close of ₦14.90.
Central Securities Clearing System Plc, which currently holds a market capitalisation of ₦98.50 Billion closed the week at ₦19.70 representing a 1.50 per cent decrease from the previous close of ₦20.00
NASD OTC Securities Exchange Market closed on a negative note year to date as the market recorded a decrease in performance. NASD Security Index Year-to-date returns decreased by 0.11%.
In the week, the total volume traded year-to-date printed at 661,823,994 units in 200 deals and the total value traded settled at ₦14,266,508,394.97. #NASD OTC Market Cap Dips as Investors Lose N3.24 Bln