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NEWREST lists on NASD as exchange loses N7bn WoW

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Equity Markets: Seeing Past the Corrections

NASD OTC Securities Exchange has admitted NEWREST ASL Nigeria Plc on its trading platform.

NEWREST ASL was introduced by APT Securities Limited on the 11th of June 2020 via Security Admission.

In a document, NASD on Friday intimated shareholders of NEWREST the development informing them that their shares are admitted and eligible to trade on the NASD OTC Exchange.

“On behalf of the Board and entire staff of NASD Plc, we congratulate NEWREST ASL on the accomplishment of this milestone,” it said.

Meanwhile, the unquoted exchange rounded up activities last week on a negative note as the market recorded a decrease in performance.

NASD Security Index year to date return fell by -2.16 per cent while total volume traded Year-to-Date stands at  7,791,099,074 units in 638 deals and total value traded is stood at  N10.058 billion.

Data obtained from the exchange also revealed that at the end of the 24 trading week, the exchange closed the week with a negative return in NSI, which slipped by -1.43 per cent to close the week at 682.49 points against 692.38 points in the preceding Friday, June 05 2020.

In addition, the week NASD investors lose N7.26 billion in value as the market capitalization closed at N501.34 billion compared to N508.60 billion in the preceding Friday, resulting from a negative movement of prices.

There was a -55.41 per cent decrease in the total value traded during the week as week 24 saw investors trade a total of  43.65 million in value compared to  146.32 million in the previous week.

In the same pattern, volume traded during the week was 398,800 units compared to  2.077 million units in the previous week leading to a -80.80 per cent decrease in trade volume compared to week 23.

Our Team – NASD

Mr. Bola Ajomale
(Managing Director/CEO NASD OTC)

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