NASD Trades N197.5m Shares in 64 Deals in Five Days

July 20, 2020
NASD Unlisted Securities Index

By Adedapo Adesanya

As the NASD Over-the-Counter Securities Exchange announced plans for the rapid expansion of a new market, last week (Week 29), the market saw a 230.1 per cent increase in the total value of stocks traded during the week as investors traded N197.5 million compared with N59.8 million in the previous week.

This happened as there was a 77.8 per cent increase in the number of deals executed week-on-week, at the exchange 64 deals were done compared to 36 trades.

This occurred as the week closed with a negative return in its index. The unlisted securities index return fell by 0.19 per cent to close the week at 706.44 points against 707.77 points in the preceding week.

Overall, investors lost N970 million in value, leading the OTC market capitalization to close at N518.93 billion compared to N519.90 billion in the preceding week.

In the same pattern, the trading volume during the week was 7.7 million units compared to 10.7 million units of the previous week, indicating a 27.7 per cent decrease in trading volume.

Culminating the week, total trade activity for the year was valued at N10.4 billion while the total volume traded for the year stood at 7.8 billion units in 830 deals.

NASD OTC Securities Exchange Market closed on a positive note YTD as the market recorded an increase in performance as NASD Security Index Year to date return rose by 1.28 per cent.

The week closed with UBN Properties Plc leading the five most traded securities by volume, as it raked in 5 million units while FrieslandCampina WAMCO Nigeria Plc as the fifth most traded stock by volume in week 29, trading a total of 95,645 units.

In term of securities by value, the week closed with Niger Delta Exploration and Production (NDEP) Plc ranked top among top five most traded securities by value with N153.2 million worth of stocks traded while UBN Properties Plc stood as the fifth most traded security by value for the week as it published N7 million in stock.

Two of NASD OTC stocks closed the week with a positive movement in the price. Central Securities Clearing System (CSCS) Plc, which currently holds a market capitalization of N70 billion closed the week at N14 representing a 3.7 per cent increase from the previous close of N13.5 per share.

Afriland Properties Plc, which currently holds a market capitalization of N3.02 billion closed the week at N2.2 representing a 2.8 per cent increase from the previous close of N2.14 per share.

On the other hand, two of NASD OTC big stocks close the week with negative movement in prices. UBN Properties Plc which currently holds a market capitalization of N7.9 billion closed the week at N1.4 representing a 2.8 per cent decrease from the previous close of N1.44.

NDEP  Plc which currently holds a market capitalization of N65.6 billion closes the week at N306.65 representing a 5.6 per cent decrease from the previous close of N325.

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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