In One Week, Four Stocks Yank Off N550m from NASD Exchange

By Adedapo Adesanya

It was a volatile trading week on the floor of the NASD Over-the-Counter (OTC) Securities Exchange in week 43 as the market went down week-on-week by 0.09 per cent.

The dominance of the bears at the NASD Exchange was caused by four securities, which depreciated in price in the five-day trading week, leaving the market capitalisation of the bourse to reduce by N550 million.

As a result of this, the total value of stocks on the exchange closed last Friday at N617.04 billion compared with N617.59 billion it finished at the preceding week.

In the same vein, the NASD Security Index (NSI) went down in the week by 9.26 points to settle at 746.86 points in contrast to 747.53 points it ended the earlier week.

Business Post reports that in the week, Niger Delta Exploration & Production (NDEP) Plc fell by 9.1 per cent to N227.34 per unit from N250.00 per unit, Central Securities Clearing System (CSCS) Plc declined by 4.1 per cent to N17.22 per share from N17.95 per share, Afriland Property Plc went down by 2.6 per cent to N1.11 per unit from N1.14 per unit, while Food Concepts Plc dropped 1.1 per cent to 91 kobo per share from 90 kobo per share.

There were two price gainers in the week led by NASD Plc with a price appreciation of 39.9 per cent to settle at N19.17 per unit compared with the previous week’s N13.70 per unit, while FrieslandCampina WAMCO Nigeria Plc grew by 4.2 per cent to trade at N125.00 per share versus the earlier week’s N120.00 per share.

In the week, there was a 210.9 per cent increase in the total value of transactions to N121.1 million from N39.9 million in the previous week, while the volume of trades went down by 5.9 per cent to 2.0 million units from 2.1 million units in week 42, with the number of deals rising by 54.8 per cent to 65 deals from 42 deals in the previous week.

When the market closed for the week, Nipco Plc was the most traded security by volume with 1.1 million units. NASD Plc traded 355,000 units, CSCS Plc exchanged 256,529 units, NDEP Plc traded 92,948 units, while Food Concepts Plc recorded 70,000 units.

In terms of the value, Nipco Plc also topped with N86.0 million, NDEP Plc recorded N21.2 million, NASD Plc traded N5.9 million, CSCS Plc posted N4.4 million, while FrieslandCampina WAMCO Nigeria Plc expended N3.4 million.

In the year so far, NASD Security Index has had a loss of 0.7 per cent, with investors transacting a total of 12.8 billion units of stocks worth N29.8 billion in 4,671 deals.