NASD OTC sinks over selloffs in VFD Group, Friesland Campina

The NASD over-the-counter market for trading unlisted stocks fell by more than N97 billion in the just concluded week, according to market data. The declined value was about 10% of the entire market cap as of Friday’s close.

In the five trading days spanning the week, investors lost ₦97.15 billion in value, thus pulling back the market from a trillion naira valuation. Data shows that the NASD OTC market capitalization closed at ₦911.73 trillion, falling from ₦1.01 trillion in the previous week due to negative movement in prices.

Traders’ notes show that there was a 19.80% increase in the total value traded in the just concluded week as investors trade a total of ₦570,411,936.1 in value compared to ₦476,118,279.3 in the previous week.

Total trade activity for the year is valued at ₦17,722,568,472.08, according to market data.

It was noted that the total volume traded printed at 52,900,983 units compared to 12,817,631 units in the previous week, representing a 312.72% increase in trade volume transacted. According to traders’ notes, the total volume traded for the year printed at 3,078,940,921 units.

Market data shows that Food Concepts PLC ranked top among the five most traded securities by volume and NASD PLC was the fifth most traded stock by volume traded in the week.

VFD Group PLC ranking top among the five most traded securities by value and Central Securities Clearing System PLC stood as the fifth most traded Security by value for the week.

Food Concepts PLC, which currently holds a market capitalization of ₦4.84 billion closed the week at ₦0.83 representing a 10.67 per cent increase from the previous close of ₦0.75.

Niger Delta Exploration & Production PLC, which currently holds a market capitalization of ₦34.11 billion closed the week at ₦188.06 representing a 4.48 per cent increase from the previous close of ₦180.00

On the other hand, Friesland Campina Wamco Nigeria PLC, which currently holds a market capitalization of ₦91.92 billion closed the week at ₦94.15 representing a 49.37 per cent decrease from the previous close of ₦185.96 . 11 PLC, which currently holds a market capitalization of ₦64.90 Billion closed the week at ₦180.00 representing a 10.00 per cent decrease from the previous close of ₦200.00.

NASD PLC, which currently holds a market capitalization of ₦6.21 billion closed the week at ₦14.00 representing a 5.53 per cent decrease from the previous close of ₦14.82.

VFD Group PLC, which currently holds a market capitalization of ₦29.74 billion closed the week at ₦351.03 representing a 2.98 per cent decrease from the previous close of ₦361.82

Central Securities Clearing System PLC, which currently holds a market capitalization of ₦85.00 billion closed the week at ₦17.00 representing a 0.58 per cent decrease from the previous close of ₦17.10

Year to date, NASD OTC Securities Exchange Market closed on a negative as the market recorded a decrease in performance. According to trading data, the NASD Security Index Year-to-date return has decreased by 6.66%.

Meanwhile, the total volume traded Year-to-Date printed at 3,078,940,921 units in 989 deals on Friday and the total value traded settled at ₦17,722,568,472.08.

In the just concluded week, the NASD OTC Securities Exchange Index closed with a negative movement on the NSI. The NSI return decreased by 9.63% to close the week at 693.39 points against 767.28 in the previous week.