NASD Investors Gain N2.5bn in One Week

By Adedapo Adesanya

Investors gained N2.5 billion at the NASD Over-the-Counter (OTC) Securities Exchange last week as the unlisted securities space grew by 0.5 per cent week-on-week.

As a result of this, the market capitalisation of the bourse increased to N502.82 billion from N500.32 billion, while the NASD Securities Index (NSI) rose by 3.5 points to 700.8 points from 697.3 points.

Business Post reports that the gains last week were buoyed by the market’s heavyweights led by FrieslandCampina WAMCO Plc, which appreciated by 4.3 per cent to settle at N125.50 per share compared with the previous N120.34 per share.

Niger Delta Exploration & Production (NDEP) Plc gained 1.9 per cent to trade at N275.00 per unit versus the previous N270.00 per unit, while Nipco Plc improved by 0.7 per cent to close at N68.50 per share in contrast to N68.00 per share it traded the preceding week.

In the week, the market witnessed declines in the share prices of UBN Property Plc and Central Securities Clearing Systems (CSCS) Plc.

UBN Property lost 4.8 per cent to close at N1.20 per unit as against the prior N1.26 per unit, while CSCS depreciated by 4.1 per cent to finish at N15.08 per share in contrast to the previous N15.72 per share.

Last week was the 10th trading week of the year and there was a 31.6 per cent decrease in the total value of securities transacted by investors to N44.6 million from N65.2 million.

However, the volume of stocks traded increased by 242.1 per cent to 8.4 million units from 2.4 million units, while the number of deals reduced by 28.57 per cent to 25 trades from 35 trades.

At the close of the week, UBN Property Plc was the most traded securities by volume with 6.4 million units. Food Concepts Plc traded 1.5 million units, CSCS Plc exchanged 300,400 units, FrieslandCampina transacted 120,731 units, while NDEP Plc traded 53,500 units.

In terms of the value of trades in the week, Friesland topped with N15.6 million, NDEP Plc traded N14.9 million, UBN Property Plc recorded N7.8 million, CSCS Plc posted N4.5 million, while Food Concepts had N1.2 million.

In the year so far, investors have traded 35.0 million securities valued at N711.9 million in 300 deals.