NASD extends monthly decline, lost N15 billion in September


Trading activities on the NASD OTC market in month of September 2019 sustained negative sentiment to five (5) successive months of decline. The market indicators shed 2.89% following sell-off on two highly capitalized stocks.

The Unlisted Security Index (USI) declined by 20.79 absolute point, representing 2.89% dip, to closed at 699.63 points compared with 720.42 posted in the month of August.

Similarly, the market capitalization which opened the month of September at N517.58bn lost N14.94bn to close at N502.64bn.

Source: NASD, GTI Research

Friesland Campina WAMCO Nig. Plc topped the decliners’ park with a loss of N11.96 representing 8.50% decline to close at N128.79. Trailed by Niger Delta Exploration and Production Plc that depreciated N22.53 representing 7.08% dip to close at N295.47.

However, NASD Plc topped the gainers’ list with a gain of N0.29 to close at N3.49 per share. Followed by Central Securities Clearing System Plc with N0.14 appreciation to close at N13.30 per share.

Of the thirty-nine (39) securities admitted to trade on NASD OTC platform, only sixteen (16) traded in the month of September, with two (2) appreciating in value, two (2) depreciating and fourteen (14) remaining unchanged.

Overall, a total turnover of 36.20 million shares worth ₦523.50 million in 171 deals were traded in the month of September by investors on the OTC market, relative to 4.62 million shares worth ₦333.89 million in 187 deals in August, 2019.

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