NASD OTC Market CAP Decreased By -0.25% WoW to Close At N516.41bn; Hosts 7th AGM

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Saturday, June 27 , 2020  09:05 AM / by NASD Plc/ Header Image Credit: NASD Plc


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NASD Plc Hosts 7TH Annual General Meeting (AGM)

We are pleased to inform you that NASD PLC hosted its 7th AGM on Thursday, June 25, 2020. The AGM was held virtually and shareholders were able to cast their votes via proxies who were in attendance physically. This was done in keeping with the law of the Federal Government of Nigeria which prevents crowds from congregating as a result of the on-going pandemic. Click here to view NASD Plc 2020 Annual General Meeting.

 

Follow the link provided below to access the NASD 2019 Annual Accounts.


NASD Plc 2019 Annual Accounts

 

About Blockchain -What You Should Know

Blockchain is an especially promising and revolutionary technology in the world today as many businesses and individuals have invested and benefitted so much from it. What then is Blockchain, and what makes it so exciting and beneficial?

 

Blockchain is a Specific form or subset of distributed ledger technologies, which constructs a chronological chain of blocks, hence the name, "blockchain" .A block refers to a set of transactions that is bundled together and added to the chain at the same time. A blockchain is a peer-to-peer distributed ledger, forged by consensus, combined with a system for smart contracts and other assistive technologies. Together, these can be used to build a new generation of transactional applications that establish trust, accountability, and transparency at their core. 

 

The reason Blockchain has gained so much admiration is because of the following characteristics:

1.    Decentralization: It is not owned by a single entity; hence it is decentralized.

 

2.    Transparency: The blockchain is transparent so one can track the data if they want to.

 

3.    Immutability: Immutability, with respect to blockchain, means that once something has been entered into the blockchain, it cannot be tampered with.

 

4.    The data is cryptographically stored inside.

 

Sequel to the aforementioned characteristics, what makes the Blockchain Technology so beneficial?

1.    Reduction in systemic risk: because blockchain-based transactions require pre-funding of a trade, credit and liquidity risk would be practically eliminated.

 

2.    Cutting out the Middlemen: A key advantage to blockchain technology is cutting out the middleman. In effect, because all transactions on a blockchain are validated by the community based on a mathematical probability, the requirement of a trusted intermediary is unnecessary. Blockchain would allow you to have a decentralised stock exchange, without the need for a brokerage, clearing house, or settlement process.

 

3.    Higher liquidity: Blockchain can reduce the inefficiencies through automation, which also leads to reduction in cost and thus lowering entry barriers resulting into increased market base. For people, who could not access the markets due to cost barriers will be able to participate, ultimately increasing liquidity and investment.

 

4.    Lower Transaction Costs: Blockchain transactions are faster, as trade confirmations are done through smart contracts by peers instead of any intermediary. As the intermediaries in the system get minimised, costs associated with them, like trades record keeping, audits and trade verifications also get eliminated or reduced.

 

5.    Increased Fairness and Transparency: If implemented, blockchain can act as an online automated surveillance system for each transaction. Since the blockchain ledger is designed in such a way that all participants have full record of transactions and, therefore, holdings of investors, it can bring in complete transparency and trust in the market.

 

Year-to-Date Overview

NASD OTC Securities Exchange Market closed on a positive note YTD as the market recorded an increase in performance. NASD Security Index Year to date return rose by 0.78%. Total volume traded Year-to-Date stands at  7,797,197,005 units in 696 deals and total Value traded is N10,116,747,297.52.

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Week 26 Overview

NASD OTC Securities Exchange closed the week with a negative return in NSI. The NSI return fell by -0.25% to close the week at 703.01 points against 704.76 points in the preceding Friday, June 26 2020.

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In addition, Week 26 saw NASD Investors lose N1.28 Billion in value. NASD OTC Market capitalization closed at N516.41 Billion compared to N517.69 Billion in the preceding Friday, resulting from a negative movement of prices.


There was a -16.93% decrease in the total value traded during the week as week 26 saw NASD Investors trade a total of N26,486,591.59 in value compared to N31,886,332.50 in the previous week. Total trade activity for the year is valued at N10,116,747,297.52.

 

In the same pattern, volume traded during the week was 5,816,075.00 units compared to  281,856.00 units in the previous week leading to a 1,963.49% increase in trade volume compared to week 25. Total volume traded for the year is  7,797,197,005 units.


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Top Traded Securities by Volume

The week closed with Food Concepts Plc Ranking top among four most traded securities by volume and Afriland Properties Plc as the least traded among the four most traded in week 26.


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Top Traded Securities by Values

The week closed with Niger Delta Exploration and Production Plc ranking top among top four most traded securities by value and FrieslandCampina Wamco Nigeria Plc as the least traded among the Four most traded securities by value in week 26.


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Advancers for the week

Two of NASD OTC big stocks closed the week with a positive movement in price. Niger Delta Exploration and Production Plc, which currently holds a Market Capitalization of N58.95 Billion closes the week at N325 representing a 1.91 percent increase from the previous close of N318.95.

 

FrieslandCampina Wamco Nigeria Plc, which currently holds a Market Capitalization of N117.16 Billion closes the week at N120 representing a 0.10 percent increase from the previous close of N119.88.

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Decliners for the Week

One of NASD OTC big stocks close the week with a negative movement in price. Central Securities Clearing System Plc which currently holds a Market Capitalization of N65.25 Billion closes the week at N13.05 representing a -3.69 percent decrease from the previous close of N13.55.


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