Four Companies Diminish NASD OTC Index by 1.41% in Week 24

By Adedapo Adesanya

Four companies plunged the NASD Over-the-Counter (OTC) Securities Exchange into the negative territory in the 24th week of trading in 2022 by 1.41 per cent, diminishing the NASD Unlisted Securities Index (NSI) by 10.91 points to 764.41 points from 775.32 points recorded in the previous week.

Also, the losses recorded by the quads of Niger Delta Exploration and Production (NDEP) Plc, FrieslandCampina Wamco Nigeria Plc, Capital Bancorp Plc, and Central Securities Clearing Systems (CSCS) Plc reduced the market capitalisation of the bourse by N10 billion to N1.01 trillion from N1.02 trillion.

NDEP Plc lost 2.7 per cent in the four-day trading week to N180.00 per unit from N185.00 per unit, FrieslandCampina went down by 5.6 per cent to N98.76 per share from N104.59 per share, Capital Bancorp Plc declined by 5.7 per cent to N2.83 per share from N3.00 per share, while CSCS Plc depreciated by 3.4 per cent to N14.44 per unit from N14.95 per unit.

However, two companies posted gains in the week, with CitiTrust Holdings Plc appreciating by 7.8 per cent to trade at N6.25 per share compared with the preceding week’s N5.80 per share, while NASD Plc rose by 2.5 per cent to N15.00 per unit from N14.64 per unit.

In the week, there was a 74.4 per cent decline in the total value of shares traded by investors to N69.6 million from the previous week’s N272.4 million, while the total volume of transactions decreased by 50.8 per cent to 6.1 million units from 12.3 million units, with the number of deals reducing by 4.6 per cent to 62 trades from the 65 trades reported a week earlier.

At the close of the week, CitiTrust Holdings Plc was the most traded security by volume with 3.1 million units, Capital Bancorp Plc traded 1.9 million units, CSCS Plc exchanged 658,620 units, FrieslandCampina Wamco Nigeria Plc transacted 216,590 units, while NASD Plc traded 173,000 units.

In terms of the value of trades in the week, FrieslandCampina Wamco Nigeria Plc topped with N21.1 million, CitiTrust Holdings Plc followed with N19.4 million, NDEP Plc posted N11.6 million, CSCS Plc recorded N9.5 million, while Capital Bancorp Plc recorded N5.2 million.

In the year so far, investors have traded a total of 3.2 billion units in 1,371 deals valued at N20.9 billion, while the bourse has posted a year-to-date gain of 2.90 per cent.