UBN Property, Two Others Weaken NASD Exchange by 0.25% in Week 44

By Adedapo Adesanya

Three companies; UBN Property Plc, Friesland Campina Wamco Nigeria Plc, and Central Securities Clearing System (CSCS) Plc dragged the NASD Over-the-Counter (OTC) Securities Exchange into the negative territory in the 44th week of trading in 2022.

Last week, the NASD exchange depreciated by 0.25 per cent as a result of the decline in the stock prices of the trio, leaving the NASD Unlisted Securities Index (NSI) to shed 1.8 points to settle at 720.36 points compared with 722.16 points recorded in the previous week.

UBN Property Plc lost 9.8 per cent in the week to close at N1.01 per share, in contrast to week 43’s N1.12 per share, CSCS Plc depleted by 2.9 per cent to N13.50 per unit from N13.90 per unit, and FrieslandCampina fell by 0.1 per cent to N69.95 per share from N70.00 per share.

However, in the week, the share price of NASD Plc appreciated by 5.1 per cent to trade at N14.72 per unit compared with the preceding week’s value of N14.00 per unit.

But the improvement in this share price could not stop the reduction in the market capitalisation of the bourse, as it decreased by N2.36 billion to N948.30 billion from the N950.66 billion it closed a week earlier.

In the week, there was a 66.5 per cent decrease in the total value of transactions to N14.1 million from N41.9 million. The volume of trades also reduced by 67.6 per cent to 341,550 units from 1.1 million units, while the number of deals increased by 12 per cent to 28 trades from 25 trades in the preceding week.

At the close of the week, UBN Property Plc was the most traded stock by volume with 121,000 units, FrieslandCampina followed with 83,829 units, NASD Plc exchanged 50,000 units, CSCS Plc transacted 48,700 units, and NDEP Plc traded 37,800 units.

In terms of the value of trades in the week, NDEP Plc topped with N6.6 million, FrieslandCampina followed with N5.9 million, NASD Plc posted N736,000, CSCS Plc recorded N666,850 while UBN Property Plc posted N122,050.

In the year so far, investors have traded a total of 3.5 billion units in 2,337 deals valued at N27.2 billion.