Bears Inflict 0.01% Weekly Loss on NASD OTC Exchange

By Adedapo Adesanya

The bears tighten their grip on the NASD Over-the-Counter (OTC) Securities Exchange last week, inflicting a 0.01 per cent loss on the exchange.

Investors at the unlisted securities market counted another loss at the market as a result of a rising interest in other forms of investments giving them better returns like the cryptocurrency.

As a result of declining interest on the unlisted securities market, the NASD Security Index (NSI) return decreased by 0.10 points last week to 725.29 points from the preceding week’s 725.39 points.

Also, the market capitalisation of the bourse reduced by N70 million to close at N520.41 billion compared to N520.48 billion of the earlier week.

During the week, the share price of Niger Delta Exploration & Production (NDEP) Plc depreciated by 3.03 per cent to settle at N320.00 per unit in contrast to N330.00 per unit it closed the previous week.

However, the share price of the Central Securities Clearing System (CSCS) Plc closed positive with a growth of 1.12 per cent to finish at N16.18 per unit compared with the previous N16.00.

In the same vein, the equity price of FrieslandCampina WAMCO Nigeria Plc appreciated by 0.71 per cent to close at N122.00 per unit versus N121.14 per cent.

On the activity chart, the total value of trades declined by 81.5 per cent to N145.6 million from the preceding week’s N401.9 million. Also, the total transactions went down by 12.5 per cent to 1.1 million units from 1.3 million units, while the number of deals decreased by 13.9 per cent to 31 deals from 35 deals at the preceding week.

A further look into the chart showed that CSCS Plc was the most traded securities by volume with 1.1 million units. FrieslandCampina traded 67,062 units, UBN Property Plc exchanged 16,500 units, NDEP Plc transacted 11,260 units, while Afriland Plc traded 1,886 units.

In terms of the most traded securities by value, CSCS Plc also topped the chart with the sale of shares worth N14.9 million. FrieslandCampina traded N8.3 million, NDEP Plc transacted N3.6 million, UBN Property Plc exchanged N20,790 million, while Afriland Plc traded N2,829.

In the year-to-date overview, the unlisted securities market closed on a negative note as the market recorded a decrease in performance by 2.2 per cent.

In the year so far, investors have traded 20.0 million units worth N401.9 million in 142 deals.