Four Stocks Slice N2.76bn from NASD OTC Bourse in One Week

January 1, 2024
NASD OTC securities exchange

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange ended 0.22 per cent lower in the final trading week of 2023 (Week 52) even as there were no gainers in the three days of trading following Christmas and Boxing Day breaks last Monday and Tuesday.

Geo-Fluids Plc, NASD Plc, Friesland Campina Wamco Nigeria Plc, and Central Securities Clearing Systems (CSCS) Plc recorded losses in the week, trimming the value of the exchange by N2.76 billion to N1.257 trillion from N1.259 trillion in Week 51.

The market index, NASD Unlisted Securities Index (NSI), made a 2.03 points slide to wrap the year at 927.47 points compared with 929.50 points recorded in the previous week.

Geo-Fluids Plc lost 3.4 per cent in the week to sell at N2.55 per share compared with the preceding week’s N2.64 per share, NASD Plc shed 1.7 per cent to end at N12.98 per unit versus the earlier week’s B13.20 per unit, FrieslandCampina Wamco Nigeria Plc declined by 0.9 per cent to N80.00 per share from the previous close of N80.75 per share and CSCS Plc fell by 0.8 per cent to N19.84 per unit from N20.00 per unit.

In the week, there was an 86.2 per cent decrease in the total value of transactions to N33.8 million from N244.2 million in the previous week, the total volume of securities traded during the week went down by 89.3 per cent to 5.9 million units from 57.9 million units sold in the previous week, and the number of deals depreciated by 62.7 per cent from 31 deals from 83 deals in the preceding week.

At the close of the week, Geo-Fluids Plc was the most traded security by volume with 5.0 million, CSCS Plc exchanged 0.4 million units, NASD Plc transacted 0.3 million units, FrieslandCampina Wamco Nigeria Plc transacted 0.11 million and UBN Property Plc traded 0.03 million units.

By value, Geo-Fluids Plc also topped with N12.8 million, FrieslandCampina Wamco Nigeria Plc followed with N8.9 million, CSCS Plc posted N7.4 million, NASD Plc recorded N3.9 million while Nipco Plc raked in N0.4 million.

Adedapo Adesanya

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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