NASD OTC Market CAP Decreased By -1.53% WoW to Close At N531.19bn

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Friday October 09, 2020 / 10:00 PM / by NASD Plc/ Header Image Credit: NASD 

 

COVID-19 Impact Series: Fitness Industry

People pay a lot of attention to physical fitness and exercises in order to be healthy. Thus, the fitness industry has enabled individuals to achieve the goal above. However, this industry has been greatly hampered by the pandemic. Hence, the following paragraphs would highlight some specific areas of this industry that has been affected, the ones that have benefited and the future concerns for the industry.

 

The most notable change is the use of virtual means for workouts and coaching. Once the gyms and other fitness locations were shut down in response to the virus outbreak, it is evident that groups of people started to use applications like zoom for video conferencing to try to replicate the gym environment from their respective places of residence. This has also brought about the rise of online fitness programs as the gym owners and firms in the industry try to adjust to meet market demands. However, one can still notice that there would be loss of revenue for almost all gyms and fitness firms. This is because major investment in these firms were made towards the physical attendance rather than virtual training. For instance, Mindbody, a technology platform for fitness has seen increase in membership and revenue because users have become more accustomed to and prefer working from home after the events of the last six months.

 

Another thing to consider is the change in the workout frequency. One can look at it from two main perspectives. The first is, there would be a massive drop in fitness because gyms and sparring centres and sports centres were closed so people cannot go to those places to keep fit. However, another person could decide to work out more times because they eliminate the time and cost of commuting and can just start immediately before or after work, since in most cases, people are working from home. To put it in perspective, I believe this two things are true and indicate the future trends in these industry.

 

In order to be sure, surveys were conducted and findings show that people who have started to work out from home either by themselves or through online platforms actually prefer to remain doing so rather than going to the physical gyms. This can explain why some gyms are filing for bankruptcy protection from their respective governments in order to keep afloat. Also, reports have also shown that yoga has become the most popular form of exercise during the pandemic.

 

In summary, if one is to recap the major trends in this industry, it can be said that the outbreak of the virus caused forced closures in the industry which led consumers to adapt to virtual gyms. And after the reopening of the economy, the mixed results from customers returning to the gym has caused for some concerns to the firms in the industry. Change is inevitable, and there has been evidence of a new pathway in the industry as a result of online programs and technology.

 

So, one might ask, in what way does this affect NASD? There is one major way. NASD through their Enterprise Portal and Venture Ramp provide platforms for capital acquisition for those firms like fitness gyms so that they can expand and diversify into online methods to meet the current market demands. Therefore, NASD provides platforms to facilitate funding for the firms that need it by serving as a third party to link funds from potential investors to various firms in the sectors of the economy that require it.

 

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 3.67%. Total volume traded Year-to-Date stands at 7,843,267,130 units in 1251 deals and total Value traded is N11,475,605,563.93.


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Week 41 Overview

 

NASD OTC Securities Exchange closed the week with a negative return on NSI. The NSI return fell by -1.53% to close the week at 723.13 points against 734.39 points against preceding Friday, September 25 2020.

 

In addition, Week 41 saw NASD Investors lose N8.27 Billion in value. NASD OTC Market capitalization closed at N531.19 Billion compared to N539.46 Billion in the preceding Friday, resulting from a negative movement of prices.

 

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There was a -81.00% decrease in the total value traded during the week as week 41 saw NASD Investors trade a total of N93,143,575.10 in value compared to N490,219,668.44 in the previous week. Total trade activity for the year is valued at N11,475,605,563.93.

 

In a similar pattern, volume traded during the week was 914,200.00 units compared to 2,326,164.00 units in the previous week leading to a -60.70% decrease in trade volume compared to week 40. Total volume traded for the year is 7,843,267,130 units.

 

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Top Traded Securities by Volume

 

The week closed with VFD Group Plc ranking top among five most traded securities by volume and Afriland Properties Plc as the fifth most traded stock by volume traded in week 41.

 

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Top Traded Securities by Values

 

The week closed with VFD Group Plc ranking top among five most traded securities by value and Afriland Properties Plc stood as the fifth most traded Security by Value for the week.

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Advancers for the week

 

There were no advancers in the week

 

Decliners for the Week

 

Two of NASD OTC stocks closed the week with a drop in the value of their Securities. FrieslandCampina Wamco Nigeria Plc, which currently holds a Market Capitalization of N133.89 Billion closes the week at N137.14 representing a -2.38 percent decrease from the previous close of N140.49.

 

Central Securities Clearing System Plc, which currently holds a Market Capitalization of N67.5 Billion closes the week at N13.5 representing a -6.90 percent decrease from the previous close of N14.5.


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 Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.

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