NASD OTC Market CAP Increased By 0.28% WoW to Close At N522.39bn

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Friday August 28, 2020 / 08:34 PM / by NASD Plc/ Header Image Credit:NASD Plc


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COVID-19 Impact Series: Nigerian Banks

As the world continues to battle with the coronavirus outbreak, the impact across some key economic sectors cannot be understated and the hospitality sector is not exempted.

 

Hotels, restaurants, clubs, theme parks, cinemas, outdoor catering have all been struck hard by the Coronavirus outbreak. The pandemic has hurt the hospitality sector twice as much as both the Ebola and Severe Acute Respiratory Syndrome (SARS) outbreaks did in the earlier years. The number of deaths keep increasing every day as more than 2.5 million cases are recorded worldwide already. The negative impact of the pandemic in the hospitality industry was valued at over $800 billion as at the end of April 2020.

 

The hospitality industry felt the impact of the pandemic most when the Federal Government shut the economy in April, as it asked all businesses in Abuja, Lagos, and Ogun States to lock up. Only the businesses offering essential services were exempted. However, hotels are not considered to be among the essential services providers and therefore, they were mostly shut down, except for the few that were and are still being used as isolation centres. It is worthy to note that the adverse effects of the shutdown were huge. Revenue suffered, even as many hotel workers were laid off.

 

Nigeria's hospitality giants have had their revenues bleeding due to the pandemic. For instance, Marriot International which is the biggest and largest hotel chain in the world with over 170,000 employees have granted a temporary leave from work to its workforce to be able to cope financially and avoid unnecessary overhead costs coupled with low or no patronage in these trying times. Also, Transcorp Hotels PLC's room revenue fell to N3.03 billion compared to the N5.88 billion in the same period in 2019. The business activities of its branches in the nation's commercial capital, Lagos, as well as in Calabar and Port-Harcourt grounded to a halt between the months of April and May after the government imposed restricted movements in a bid to combat the spread of the Coronavirus.

 

The Hospitality sector do not need to wait for the end of the pandemic to start planning a recovery for itself. The recovery process needs to begin at the earliest possible time. According to industry reports, it may take about 8 months at the most for the hospitality industry to revamp after the pandemic is declared under control. So, how can operators in this industry make the best use of this pandemic? The operators need to look inwards and re-engineer the processes to cut costs, and look outwards to customers, maintain contact, inform them about the steps being taken to ensure their safety when they return. It is that simple.

 

In support of the hospitality industry as well as other affected industries, NASD in its capacity, encourages enterprises in Nigeria by providing access to capital to ensure sustenance of operations during a period such as this. We accomplish this via our service offerings - the NASD Enterprise Portal (NASDeP) and VentureRamp. NASDeP helps connect high growth enterprises in the hospitality services sector with willing private equity investors seeking to invest, while the NASD VentureRamp is a crowdfunding platform that can assist entrepreneurs in raising funds for their respective projects.

 

NASD continues to support growth and development within Nigeria and through its activities boost the capital market by facilitating capital raise and liquidity for enterprises across various sectors through innovative products and service offerings.

 

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 1.95%. Total volume traded Year-to-Date stands at 7,822,836,144 units in 1045 deals and total Value traded is N10,719,595,461.21.

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Week 35 Overview

NASD OTC Securities Exchange closed the week with a positive return on NSI. The NSI return rose by 0.28% to close the week at 711.15 points against 709.17 points against preceeding Friday, August 21 2020.

 

In addition, Week 35 saw NASD Investors gain N1.45 Billion in value. NASD OTC Market capitalization closed at N522.39 Billion compared to N520.93 Billion in the preceding Friday, resulting from a positive movement of prices.


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There was a -96.97% decrease in the total value traded during the week as week 35 saw NASD Investors trade a total of N5,353,298.96 in value compared to N176,792,234.71 in the previous week. Total trade activity for the year is valued at N10,719,595,461.21.

 

In the same pattern, volume traded during the week was 250,906 units compared to 2,195,636 units in the previous week leading to a -88.57% decrease in trade volume compared to week 34. Total volume traded for the year is 7,822,836,144 units.

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Top Traded Securities by Volume

 

The week closed with Central Securities Clearing System Plc ranking top among three most traded securities by volume and Niger Delta Exploration and Production Plc as the third most traded stock by volume in week 35.

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Top Traded Securities by Values

 

The week closed with Central Securities Clearing System Plc ranking top among three most traded securities by value and Niger Delta Exploration and Production Plc stood as the third most traded Security by Value for the week.

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Advancers for the Week

 

One of NASD OTC stock closed the week with a positive movement in price. FrieslandCampina Wamco Nigeria Plc, which currently holds a Market Capitalization of N118.64 Billion closes the week at N121.50 representing a 1.24 percent increase from the previous close of N120.01.


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Decliners for the Week

 

There were no decliners in the week.


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    Proshare Nigeria Pvt. Ltd.


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