NASD Investors Lose N10bn in One Week

By Adedapo Adesanya

Investors at the National Association of Securities Dealers (NASD) Over-the-Counter (OTC) Securities Exchange recorded a 0.24 per cent decline in the value of their portfolios last week.

It was the fourth straight week NASD investors are recording losses due to profit-taking activities.

It was observed that in the 19th trading week of 2023, two shares on the platform shed weight compared with the four appreciating stocks recorded in the week.

FrieslandCampina Wamco Nigeria Plc slumped by N4.05 to end the week at N69.92 per share versus the preceding week’s N73.97 per share, and 11 Plc lost N4.01 to close at N127.49 per unit versus the previous week’s N131.50 per unit.

On the gainers’ angle, Central Securities Clearing System (CSCS) appreciated by N1.20 to end the week at N14.40 per share, in contrast to N13.20 per share, Afriland Properties Plc gained 10 Kobo to trade at N2.40 per unit compared with N2.30 per unit, UBN Property Plc improved by 8 Kobo to 94 Kobo per unit from 86 Kobo per unit, while Geo-Fluids Plc added 8 Kobo to its value to end at N2.58 per share versus N2.50 per share.

At the close of transactions, the market capitalisation of the bourse went down by N10 billion from N1.000 trillion from N1.010 trillion in Week 18, as the NASD Unlisted Securities Index (NSI) lost 1.76 points to wrap the week at 724.26 points compared with 726.02 points.

In the 19th week, there was a 504.1 per cent increase in the total value of trades to N126.8 million from N20.9 million, and the volume of trades jumped by 84.1 per cent to 23.5 million units from 12.8 million units.

UBN Property Plc was the most traded stock by volume with 11.13 million units, Geo-Fluids Plc transacted 10.1 million units, Afriland Properties Plc exchanged 1.06 million, FrieslandCampina Wamco Nigeria Plc traded 962,912 units, and 11 Plc sold 142,163 units.

In terms of the value of trades in the week, FrieslandCampina Wamco Nigeria Plc led with N67 million, Geo-Fluids Plc traded N26 million, 11 Plc transacted N18 million, UBN Property Plc recorded N10 million, and Afriland Properties Plc transacted N2 million.