In One Week, NASD Investors’ Wealth Shrink by N19.24bn

By Adedapo Adesanya

The 20th week of trading of this year at the National Association of Securities Dealers (NASD) Over-the-Counter (OTC) Securities Exchange ended on a negative note with a 1.82 per cent loss.

The alternative bourse in Nigeria shrank by N19.24 billion as the market capitalisation went down to N1.04 trillion from the preceding week’s N1.06 trillion just as the NASD Unlisted Securities Index (NSI) lost 14.7 points to 793.05 points from 807.75 points.

Business Post reports that the negative movement was buoyed by four stocks led by VFD Group Plc, which depleted by 33.3 per cent to close at N234.02 per share compared with the previous week’s N351.03 per share.

Capital Bancorp Plc lost 21.7 per cent to N3.00 per share from N3.83 per unit, FrieslandCampina WAMCO Nigeria Plc dropped 9.2 per cent to wrap the week at N109.00 from N120.per share, while Central Securities Clearing System (CSCS) Plc closed the week at N16.95 representing a 0.3 per cent decrease from the previous close of N17.

However, Niger Delta Exploration & Production Plc (NDEP) closed higher by 7.1 per cent to N225.00 per share from N210.00 per unit per, Food Concepts Plc gained 6.9 per cent to sell at 93 kobo per unit compared with the previous week’s 87 kobo per unit, while NASD Plc improved by 0.9 per cent to N13.72 per share from N13.60 per share.

There was a 96.7 per cent decrease in the value of transactions last week to N79.8 million from N2.4 billion, the volume of trades decreased by 11.7 per cent to 29.9 million units from 3.1 billion units, while the number of deals dropped 18.3 per cent to 58 trades from 71 trades.

Food Concepts Plc was the most traded security by volume with 20 million units, Capital Bancorp Plc traded 8.9 million units, NASD Plc exchanged 925,125 units, NDEP Plc traded 65,303 units, while CSCS Plc sold 55,900 units.

But by value, Capital Bancorp Plc was the most active stock with N26.7 million, Food Concepts Plc recorded N18.6 million, NDEP Plc traded N14.3 million, NASD Plc posted N12.7 million, while FrieslandCampian Plc had N4.6 million.

On a year-to-date basis, investors have transacted 3.1 billion units worth N20.4 billion in 1,150 deals at the NASD OTC exchange, with the NSI posting a year-to-date gain of 6.8 per cent.