NASD Returns 4.17%, Market Sees A Negative Movement In Prices

Year-to-date return on unlisted stocks trading on NASD Over-the-counter market hits 4.17 per cent last week over selloffs among over 42 securities admitted on the platform traded by 238 registered brokers.

The unlisted market year to date undercut more than 20 per cent returns in the Nigerian equities market. The negative price movements seen dragged the NASD OTC Securities Exchange Index lower, according to market data, with a negative movement on the NSI, keeping the over-the-counter market return largely unimpressive.

In particular, the market report for the week shows that the NSI return decreased by 0.03 per cent to close the week at 773.79 points against the 774.03 levels seen in the previous week.

Last week, the NASD Investors lose N0.03 trillion, thus dragging the entire market capitalisation lower due to selloffs of unlisted shares of Central Securities Clearing System Plc.

Market capitalization then settled at N1.02 trillion while the over-the-counter market announced the retirement of its managing director, Bola Ajomale.

Trading data shows that there was a 1778.70 per cent increase in the total value traded last week as investors transacted a total of N637, 849,607.86 in value compared to N33, 951,566.75 in the previous week.

Total trade activity for the year printed at N21, 929,119,243.15 while total volume traded settled at 43,464,215 units compared to 942,570 units in the previous week.

This translates to a 4511.25 per cent increase in trade volume compared to the previous week’s close. The total volume traded for the year inched upward to 3,228,610,554 units.

CitiTrust Holdings PLC ranked top among the five most traded securities by volume and VFD Group PLC was the fifth most traded stock by volume traded in the week.

CitiTrust Holdings PLC ranked 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.

In terms of value, CitiTrust Holdings PLC, which currently holds a market capitalisation of N8.00 billion closed the week at N8.00 representing a 16.79 per cent increase from the previous close of N6.85?

NASD PLC, which currently holds a market capitalisation of N8.83 billion closed the week at N18.09, representing a 9.64 per cent increase from the previous close of N16.50.

Niger Delta Exploration & Production PLC, which currently holds a market capitalisation of N39.36 billion closed the week at N217.00 representing a 3.33 per cent increase from the previous close of N210.00.

Central Securities Clearing System PLC, which currently holds a market capitalisation of N72.55 billion closed the week at N14.51 representing a 0.76 per cent decrease from the previous close of N14.40.

NIPCO PLC, which currently holds a market capitalisation of N10.69 billion closed the week at N57.00, a 3.14 per cent decrease from the previous close of N58.85.

Friesland Campina Wamco Nigeria PLC, which currently holds a market capitalization of N195.46 billion closed the week at N100.10 representing a 1.86 per cent decrease from the previous close of N102.00.

Amidst expectation of an improved outlook in the second half of 2022, the NASD OTC Securities Exchange market closed positive year to date due to improved trading patterns.

Market return hits 4.17 per cent as total volume traded year-to-date printed at 3,228,610,554 units in 1,585 deals and the total value traded amounted to ₦ 21,929,119,243.15.