Three Stocks Expand NASD Market Cap by N12.59bn in Week 16

By Adedapo Adesanya

For another trading week, investors at the NASD Over-the-Counter (OTC) Securities Exchange saw their portfolios rising by 2.7 per cent.

This was because the market capitalisation of the exchange increased by N12.59 billion to close at N558.09 billion compared to N545.50 billion it ended the previous week.

The increase recorded in the 16th week of this year was influenced by three securities of which FrieslandCampina WAMCO Nigeria Plc saw its value rising by 7.5 per cent to trade at N139.70 per share in contrast to the previous N130 per share.

The Central Securities Clearing System (CSCS) Plc appreciated by 3.9 per cent to N16.65 per unit from N16.03 per unit of week 15, while Nipco Plc gained 0.7 per cent to sell for N69 per share as against the previous N68.50 per share.

At the close of transactions last Friday, the NASD Security Index (NSI) increased by 17.72 points to settle at 785.15 points from 767.43 points.

Business Post reports that the market recorded price decliners last week and they were the Nigerian Exchange (NGX) Group Plc and Afriland Properties Plc.

The NGX Group went down by 9.3 per cent to close the week at N19.99 per unit versus the previous N22.03 per unit, while Afriland reduced by 3.8 per cent to N1.25 per share from N1.30 per share.

A total of N1.6 billion worth of securities were transacted in the week, 425.9 per cent higher than the N281.7 million recorded in the previous week, while 81.3 million stocks exchanged hands in week 16 compared with the 12.9 million stocks of the preceding week, indicating a jump by 532.6 per cent, while the number of deals increased by 106.9 per cent to 269 deals from 130 deals.

On a year-to-date basis, investors have traded 135.9 million units valued at N3.4 billion in 800 deals.

NGX Group was the most traded securities by volume with 64.6 million units and was followed by CSCS Plc with 16.0 million units, Friesland with 531,865 units, Nipco Plc with 100,000 units and Niger Delta Exploration and Production (NDEP) with 25,678 units.

In terms of volume, NGX Group was the most active with N1.2 billion. CSCS Plc followed with N242.2 million, Friesland with N69.8 million, NDEP Plc with N8.6 million, Nipco Plc with N6.9 million.