Friday, Jun 04, 2021 / 10:42 PM / by NASD Plc / Header image credit: NASD Plc
In accordance with the SEC’s public limited company rule which correctly states that all securities of unlisted public companies must be bought, sold or transferred only through an approved over-the-counter market, the NASD has taken the initiative to create a database of unlisted PLCS registered with the SEC. however does not trade on a traditional exchange.
NASD predicts that this action would create more market activity and liquidity in the capital market by listing these companies on an SEC-approved marketplace.
A second list, the WATCHLIST, is a database of ATMs not registered with the SEC and not trading on any traditional stock exchange. The purpose behind this is to ensure that these companies renew their SEC license.
It should be noted that the two databases are not fixed, so they can be changed at any time. We only intend to abide by the rules set by the SEC. We also intend to deepen the Nigerian capital market, improve the level of investor confidence and ensure liquidity.
Overview since the beginning of the year
NASD OTC Securities Exchange Market has closed on a positive note since the start of the year as the market has seen an increase in performance. NASD Security Index Since the start of the year, returns have increased 4.25%. The total volume traded since the start of the year amounts to 368,556,255 units in 2,076 transactions and the total value traded is NOT8.075.817.703.
Week 22 preview
The NASD OTC Securities Exchange Index closed the week with a positive return on the NSI. The NSI yield rose 2.78% to close the week at 773.22 points from 752.3 on Friday May 28, 2021.
Additionally, week 22 saw NASD investors win NOT14.87 billion in value. NASD OTC Market capitalization closed at NOT549.61 billion compared to NOT534.74 billion on Friday, May 28, 2021, resulting from a positive price movement.
There was a 70.19% drop in total traded value during the week, with week 22 seeing NASD investors trading a total of NOT221,890,563 in value compared to NOT744 313 468 the previous week. Total business activity for the year is estimated at NOT8.075.817.703.
The total volume traded during the week was 12,454,168 units versus 24,815,257 units the previous week, resulting in a 26.32% drop in trading volume from week 21. Total volume traded for the year is 368,556,255 units.
Most traded securities by volume
The week ended with Nigerian Exchange Group PLC ranking first in the top five most traded stocks by volume and NIPCO PLC in fifth place in the most traded stocks by volume of the week.
Most traded securities by security
The week ended with Nigerian Exchange Group PLC ranking the top five most traded securities by value and NIPCO PLC ranking fifth most traded securities by value for the week.
Progress of the week
NIPCO PLC, which currently holds a market capitalization of NOT13.83 billion ended the week at NOT73.70 representing a 10.00 percent increase over the previous close of NOT67.00.
FrieslandCampina Wamco PLC, which currently holds a market capitalization of NOT125.45 billion ended the week at NOT128.50 representing an increase of 5.99 percent from the previous close of NOT121.23.
Central Securities and Clearing System PLC, which currently holds a market capitalization of NOT92.80 billion ended the week at NOT18.56 representing an increase of 5.97 percent from the previous close of NOT17.53.
Niger Delta Exploration & Production PLC, which currently holds a market capitalization of NOT54.42 billion ended the week at NOT300.00 representing an increase of 2.57% over the previous close of NOT292.48.
Declines of the week
Nigerian Exchange Group PLC, which currently holds a market capitalization of NOT39.52 billion ended the week at NOT20.80 representing a decrease of 1.75% compared to the previous close of NOT21.17.
- NASD OTC market cap fell -2.73% on WoW to close at 534.74 billion naira
- NASD OTC market cap rose + 0.65% WoW to close at 549.74 billion naira
- NASD OTC market cap decreased -1.24% WoW to close at 546.20 billion naira
- NASD OTC market cap decreased -1.50% WoW to close at N553.03bn
- NASD OTC market cap rose 0.60% WoW to close at N561.46bn
- NASD OTC market cap rose 2.31% WoW to close at 558.09 billion naira
- NGX Admission to NASD Could Improve Investor Confidence in OTC Market
- NASD OTC market cap rose 1.53% WoW to close at 545.50 billion naira, admits NGX group
- Nigerian Exchange Group Now Admitted To Trade On NASD OTC
- NASD OTC market cap rose 1.44% WoW to close at 537.26 billion naira