Market Value of NASD Exchange Grows N6.41bn in One Week

By Adedapo Adesanya

The total value of stocks on the NASD Over-the-Counter (OTC) Securities Exchange expanded by N6.41 billion in the 50th trading session of 2021.

According to the weekly NASD market review and analysis observed by Business Post, the market capitalisation of the platform jumped to N611.29 billion from N604.88 billion in Week 49.

This was boosted by the bullish performances of two securities, which also increased the NASD Security Index by 1.1 per cent or 7.75 points to 739.9 points from the preceding week’s 732.15 points.

Friesland Campina Wamco Nigeria Plc was the highest price gainer in the week as its value rose by 8.1 per cent to N119.00 per unit from N110.00 per unit, while Niger Delta Exploration and Production (NDEP) Plc appreciated by 3.3 per cent to N235.54 per share from N228.00 per share.

The market was not without a price loser as the equity price of Central Securities Clearing Systems (CSCS) Plc declined by 4.2 per cent to settle at N17.00 per share compared with the previous closing price of N17.75 per share.

In the week, the total value of transactions went down by 73.1 per cent to N41.9 million from N155.8 million, the volume of trades depreciated by 84.4 per cent to 1.0 million units from 6.6 million units, while the number of deals shed 62.3 per cent to 20 deals from the preceding week’s 53 deals.

At the close of transactions, CSCS Plc was the most traded stock by volume last week, trading 500,000 units. It was followed by NASD Plc with 400,000 units, NDEP Plc with 70,000 units, FrieslandCampina Wamco Nigeria Plc with 52,009 units and Mixta Real Estate Plc with 2,000 units.

In terms of the most traded securities by value, the table was topped by NDEP Plc with a turnover of N16.5 million, NASD Plc trailed with N10.8 million, CSCS Plc traded N8.5 million, FrieslandCampina Wamco Nigeria Plc exchanged N6.2 million, while Mixta Real Estate Plc traded N3,900.

In the year so far on the NASD exchange, investors have transacted a total of 12.8 billion units of securities worth N30.3 billion in 4,927 deals.