NASD securities exchange market size drops by N4.90bn
By Temitope Adebayo
Following a flurry of selloffs by investors dumping unlisted companies’ shares, the NASD over-the-counter (OTC) securities exchange market index slumps, as investors lost N4.90 billion in five trading sessions.
As a result, NASD Security Index’s year-to-date returns decreased by 0.91 per cent.
Figures, however, showed that buying interest in shares of unlisted companies has been dropping since last year amidst pressures in the local economy.
Trading data indicated that the NASD Securities index return decreased by 0.53 per cent to close the week at 703.23 points from 706.97 points week on week. Key listed companies’ shares including VFD Group, 11 Plc, and Niger Delta Exploration among others have seen lower transactions amidst selloffs that have persisted.
Figures for last week’s trading outing showed the negative performance of the OTC market index dragged return and market capitalisation lower.
On Friday, market capitalisation declined to N924.06 billion following its record losses, from N928.96 billion in the comparable week due to negative movement in prices. Data from the OTC market show that there was a 24.10 per cent decrease in the total value traded during the week. NASD Investors traded a total of N41, 711,857.20 compared to N54, 955,194.38 in the previous week.
Total trading activities for the year printed at N 28,022,019,824.52 on Friday. The total volume traded was 24,344,681 units compared to 24,859,382 units in the previous week, translating to a 2.07 per cent decrease in trade volume.
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The total volume traded for the year is 3,898,173,423 units. Geo Fluids Plc ranked top among the five most traded securities by volume and Friesland Campina Wamco Nigeria Plc was the fifth most traded stock by volume.
Again, Geo Fluids Plc led the five most traded securities by value and Central Securities Clearing System Plc was the fifth in the week.
From the beginning of the year to date, the total volume traded has inched to 11 2,720,223 units in 266 deals and the total value traded was valued at N300, 573,978.00 on Friday’s close.
