NASD closes south on negative price movements in bellwethers

Investors lost N6.64bn

WAS A BEARISH OUT ING last week at the NASD OTC Securities Exchange with the benchmark index easing by 124 basis points to close at 744.39 points on the back of negative price movements in the market bellwethers. Consequently, the NASD market capitalisation was down to N529.12 billion in value from the previous week’s close of N535.76 billion resulting from price declines while market investors lost N6.64 billion in one week. On the flip side, NASD Security Index year to date returns increased by 0.37 per cent.

Similarly, the level of trading activities waned as there was 58.37 percent decline in the total value of trades to N439.73 million from N1.05 billion in the prior week while the total volume traded dipped 98.14 per cent week on week to 19.64 million from 1.06 million recorded in 170 trade deals.

Furthermore, the week closed with Nigerian Exchange Group (15.35 million units) ranking top among the five most traded securities by volume, trailed by the Central Securities and Clearing System (3.56 million units), Friesland Campinounced na Wamco (0.55 million units), 11 Plc (0.1 million units) and Niger Delta Exploration & Production (0.05 million units) as the most traded stock by volume traded in the week. On the other hand, the Nigerian Exchange Group (N270.15 million) ranking top among the five most traded securities by value, followed by FrieslandCampina Wamco (N66.12 million), the Central Securities and Clearing System (N65.43 million), 11Plc (N21.50 million) and Niger Delta Exploration & Production (N14.56 million) stood as the most traded securities by value for the week.

Leading the gainers’ table for few weeks Friesland Campina Wamco Nigeria closed the week at N120.00 representing a 0.92 percent increase from the previous close of N118.90, while the Nigerian Exchange Group closed the week at N18.06 representing a 0.38 percent increase from the previous close of N17.99 and the Niger Delta Exploration & Production closed the week at N280.50 representing a 0.17 percent increase from the previous close of N280.01. On the other hand on the laggers, Central Securities and Clearing System was the lone loser as it closed the week at N16.99 representing a 8.41 per cent increase from the previous close of N18.55.