NASD Falls as Providus Bank Delists, Niger Delta Exploration Dips
NASD over-the-counter (OTC) loses N4.25 billion during the trading session this week as investors dump unlisted companies’ stock that sees Niger Delta Exploration and Production Plc. topping the losers’ chart.
Consequently, the OTC market capitalisation ended the week at ₦597.13 billion from ₦601.38 billion at the beginning of the week. The decline is attributed to negative movement in prices in some stocks and the delisting of Providus Bank from the NASD OTC Exchange.
There was a 1786.92% increase in the total value traded during the week, according to the trading book. This week, investors trade a total of ₦1,297,603,612.42 in value compared to ₦68,768,365.62 in the previous week.
Total trading activities for the year printed at ₦16,255,777,046.67, market data from the OTC Exchange shows. Meanwhile, there was heavy demand in the over-the-counter market as the total volume traded printed at 2,258,923,086 units compared to 7,148,454.00 units in the previous week.
This translated to a 31500.16% increase in trade volume compared to the previous week as the total volume traded for the year is 2,997,218,057 units. READ: FMDQ Welcomes Providus Bank ₦100bn Commercial Paper
Market data shows that the week closed with AG Mortgage Bank Plc ranking top among the five most traded securities by volume and Friesland Campina Wamco Nigeria Plc as the fifth most traded stock by volume traded in the week.
Again, AG Mortgage Bank Plc ranking top among the five most traded securities by value and Niger Delta Exploration & Production Plc stood as the fifth most traded Security by value for the week.
Friesland Campina Wamco Nigeria Plc, which currently holds a market capitalisation of ₦121.55 billion closed the week at ₦124.50 representing a 9.11 per cent increase from the previous close of ₦114.10
NASD Plc, which currently holds a market capitalisation of ₦6.14 Billion closed the week at ₦13.84 representing a 20.87 per cent increase from the previous close of ₦11.45.
Afriland Properties Plc, which currently holds a Market Capitalization of ₦1.55 Billion closed the week at ₦1.13 representing a 4.74 per cent increase from the previous close of ₦1.08.
Niger Delta Exploration & Production Plc, which currently holds a market capitalisation of ₦32.10 billion closed the week at ₦177.00 representing a 1.87 per cent decrease from the previous close of ₦180.38.
This week, the NASD OTC Securities Exchange Index closed the week with a positive movement on the NSI. The NSI return increased by 1.82% to close the week at 723.12 points against 710.19 on Friday, March 18, 2022.
Year to date data shows that the NASD OTC Securities Exchange Market closed on a negative as the market recorded a decrease in performance following selling rallies. Thus, the NASD Security Index year-to-date returns decreased by 2.66%.
Total volume traded year-to-date stands at 2,997,218,057 units in 521 deals and the total value traded settled at ₦16,255,777,046.6, according to OTC trading data. NASD Falls as Providus Bank Delists, Niger Delta Exploration Dips
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