Food Concepts, Others Slice NASD Market Cap by 0.3% in Week 37

By Adedapo Adesanya

The market capitalisation of the NASD Over-the-Counter (OTC) Securities Exchange was last week (Week 37) trimmed by 0.03 per cent or N1.87 billion to N639.47 billion from N641.34 billion it ended in Week 36.

Business Post reports that the loss was influenced by three of the securities on the bourse, with Food Concepts Plc losing 6.3 per cent to settle at 75 kobo per share compared with the preceding week’s 80 kobo per share.

Also, Nigerian Exchange (NGX) Group Plc went down by 20.7 per cent to close at N12.84 per unit in contrast to the previous rate of N16.20 per unit, while Acorn Petroleum Plc decreased by 11.8 per cent to 15 kobo per share from 17 kobo per share.

As a result of the fall in these equities, the NASD Unlisted Security Index (NSI) reduced by 2.15 points to settle at 735.72 points as against 737.87 points of the previous week.

In the week, two securities closed on the gainers’ chart and they were NASD Plc and FrieslandCampina WAMCO Nigeria Plc.

NASD Plc appreciated last week by 40 per cent to N7.14 per unit from N5.10 per unit, while Friesland improved by 0.8 per cent to trade at N122 per share in contrast to the previous close of N121.50.

Last week, there was a 78.6 per cent decrease in the total value of shares traded by investors to N237.0 million from N1.1 billion, while the volume of stocks increased by 104.6 per cent to 20.9 million units from 10.3 million of the previous week, with the number of deals rising by 60.2 per cent to 165 trades from 103 trades.

At the close of the week, NGX Group Plc was the most traded security by volume with 15.3 million units. NASD Plc traded 2.3 million units, Food Concepts Plc exchanged 2.2 million units, Acorn Petroleum Plc transacted 880,000 units, while Air Liquide Plc traded 100,000 units.

In terms of the value of trades in the week, NGX Group Plc also topped with N211.2 million, NASD Plc traded N13.6 million, Friesland Plc recorded N8.4 million, Food Concepts Plc posted N1.7 million, while CSCS Plc expended N1.2 million.

In the year so far, NSI Year-to-date returns stood at 0.8 per cent, while investors have transacted 1,963,561,193 units of shares worth N16.1 billion in 4,128 deals.