Traders Lose N11.45bn in One Trading Week at NASD OTC Bourse

By Adedapo Adesanya

The market capitalisation of the NASD Over-the-Counter (OTC) Securities Exchange depleted by N11.45 billion last week (Week 2) to close at N927.53 billion.

Business Post reports that the negative outcome happened as five of the admitted securities saw their prices depreciate over the course of five trading days.

Niger Delta Exploration and Production (NDEP) Plc lost 9.1 per cent in the week to settle at N170.00 per share compared with the previous week’s N187.04 per share, Central Securities Clearing Systems (CSCS) Plc dipped by 6.7 per cent to N12.60 per unit from N13.50 per unit, UBN Property Plc went down by 3.7 per cent to 78 Kobo per unit from 81 Kobo per unit, FrieslandCampina dropped 2.9 per cent to trade at N67.00 per share versus the previous week’s N69.00 per share, and Capital Bancorp Plc depreciated by 2.2 per cent to N2.21 per unit from the previous close of N2.26 per unit.

The quintet choked the life out of Geo Fluids Plc, which grew by 8.6 per cent week-on-week to close at 76 Kobo per share, in contrast to the previous week’s 70 Kobo per share.

At the close of transactions for the week, the NASD OTC Securities Exchange Index lost 1.22 per cent or 8.73 points to close the week at 762.12 points compared with the preceding week’s 760.92 points.

Last week, there was a 52.7 per cent decrease in the total value of shares traded by investors to N55.0 million from N116.3 million, while the volume of stocks increased by 2,601.1 per cent to 24.9 million units from 920,337 units, as the number of deals rose by 25.6 per cent to 98 deals from 78 deals.

At the close of the week, Geo-Fluids Plc was the most traded equity by volume with 20.4 million units, UBN Property Plc traded 4.1 million units, FrieslandCampina Wamco Nigeria Plc exchanged 166,688 units, CSCS Plc transacted 116,000 units, and NDEP Plc traded 75,700 units.

Also, Geo-Fluids Plc was the most active stock by value with N15.5 million, NDEP Plc traded N12.9 million, FrieslandCampina WAMCO Nigeria Plc recorded N10.9 million, VFD Group Plc posted N10.3 million, and UBN Property Plc transacted N2.9 million.

In the year so far, NSI returns have dropped 0.5 per cent, as market participants have bought and sold 25.8 million units of securities worth N171.2 million in 176 deals.