47th Trading Week of 2024 on NASD Ends With 0.43% Loss

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange closed lower last week by 0.43 per cent as investors continued, with profit-taking activities amid unfavourable macroeconomic conditions.

In the 47th trading week of the year, the value of the unlisted securities market depreciated on a week-on-week basis by N9 billion to N1.050 trillion from the N1.059 trillion it ended in the preceding week (Week 46).

In the same vein, the NASD Unlisted Security Index (USI) went down in the five-day trading week by 13.05 points to settle at 3,008.94 points compared with the 3,021.99 points it ended a week earlier.

Last week, the total value of transactions decreased by 59.9 per cent to N24.2 million from the N59.9 million recorded in the previous week, the volume of trades depleted by 33.8 per cent to 5.59 million units from 8.45 million units, and the number of deals moderated by 21 per cent to 79 deals from the 100 deals recorded in the previous week.

Business Post reports that there were four price losers and three price gainers in the week.

FrieslandCampina Wamco Nigeria Plc slid by 1.9 per cent to end the week at N42.00 per share versus N43.90 per share, Central Securities Clearing System (CSCS) Plc lost 0.5 per cent to close at N22.00 per unit compared with the preceding week’s N22.50 per unit, Acorn Petroleum Plc slumped by 0.4 per cent to N1.54 per share from N1.89 per share, and Geo-Fluids dropped 0.2 per cent to sell for N3.66 per unit compared with the preceding week’s N3.89 per unit.

However, Nipco Plc gained 16.1 per cent to end at N147.00 per share versus N130.90 per share, NASD Plc improved by 0.3 per cent to settle at N15.50 per unit compared with the preceding week’s N15.20 per unit, and Industrial and General Insurance (IGI) Plc grew by 0.01 per cent to end at 18 Kobo per share versus N17.00 per share.

CSCS Plc was the most active stock by value in the week with N7.4 million, FrieslandCampina Plc recorded N5.3 million, Geo-Fluids Plc posted N3.8 million, Nipco Plc traded N2.5 million, and 11 Plc reported N2.3 million.

By volume, IGI Plc led the activity chart with 2.95 million units, Acorn  Petroleum Plc traded 1.06 million units, Geo-Fluids Plc exchanged 0.989 million units, CSCS Plc transacted 0.35 million units, and FrieslandCampina Plc recorded 0.125 million units.