Investors Lose N7.3bn at NASD OTC Market

June 15, 2020
NASD OTC market

By Adedapo Adesanya

Investors at the NASD Over-the-Counter (OTC) Securities Exchange Market lost N7.3 billion in value resulting from a negative movement of prices in just four days of trading at the bourse last week.

This happened as the NASD OTC market capitalization closed downward in the 24th week of trading this year at N501.34 billion compared to N508.60 billion of the preceding week (Week 23).

In addition, the bourse’s unlisted securities index went down by 1.43 percent to close the week at 682.49 points as against 692.38 points in the preceding.

There was also a 55.4 percent decrease in the total value of shares traded by investors during the week. In week 24, stocks worth N43.7 million were transacted by market participants compared to the N146.3 million traded in the previous week. The total value of trades for the year stood at N10.1 billion.

In the same pattern, the volume trades last week was 398,800.00 units compared to  2,077,013 units in the previous week, representing a 80.8 percent week-on-week decrease in the trading volume. Total volume traded for the year is 7,791,099,074 units.

In the year-to-date overview, NASD OTC Securities Exchange market closed on a negative note last week, as the market recorded a decrease in performance. NASD Security Index Year to date return fell by 2.2 percent.

In terms of performers by value, the week closed with Niger Delta Exploration and Production Plc (NDEP) Plc ranked as top among three most traded securities by volume, with Central Securities Clearing System (CSCS) Plc as the least traded among the three most traded in week 24.

In terms of performers by values, the week closed with NDEP Plc ranked top among top three most traded securities by value with CSCS Plc as the least traded among the three most traded securities by value in week 24.

There was no price riser last week at the unlisted securities market, while two closed the week as decliners. These were CSCS Plc and NDEP.

CSCS, which currently holds a market capitalization of N65.3 billion, lost 3.3 percent to trade at N13.05 per share in contrast to its previous N13.5 per share.

On its part, NDEP Plc, which currently holds a market capitalization of N49.4 billion, depreciated by 9.2 percent to close at N272.35 per share as against N300 per share it ended a week earlier.

Adedapo Adesanya

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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