Adedapo Adesanya
By Adedapo Adesanya
Last week, the NASD Over-the-Counter (OTC) Securities Exchange lost N8.27 billion after the market capitalisation closed at N531.19 billion compared to N539.46 billion it ended in the preceding week.
Also, during the five-day trading week, the NASD Security Index (NSI) depleted by 11.26 points to settle at 723.13 points as against 734.39 points it finished a week earlier.
It was observed that the 1.53 per cent declined suffered by the unlisted securities market last week was influenced by the negative movements in the prices of two of NASD OTC Exchange bellwether stocks; FrieslandCampina WAMCO Nigeria Plc and Central Securities Clearing System (CSCS) Plc.
After closing the previous week positive, FrieslandCampina, which has a market capitalisation of N133.89 billion, lost N3.35 or 2.38 per cent to trade at N137.14 per share compared with N140.49 per share it closed the preceding week.
On its part, CSCS, which currently has a market capitalisation of N67.5 billion, depreciated by N1 or 6.90 per cent to settle at N13.5 per share in contrast to the previous week’s N14.50 per share.
During the week, there was an 81 per cent decrease in the total value of securities traded by investors to N93.1 million from N490.2 million in the previous week.
Similarly, the total volume stocks traded during the week was reduced by 60.7 per cent as only 914,200.00 units were transacted compared with the 2.3 million units exchanged at the preceding week.
However, there was a 2.7 per cent increase in the number of deals made by investors at the bourse as 38 deals were executed compared to 37 trades of the previous week.
On a year-to-date basis, a total of 7.8 billion securities worth N11.5 billion have been traded by market participants in 1,251 deals, data from the NASD OTC Exchange revealed.
The week closed with VFD Group Plc ranked top among five most traded securities by volume with 728,210 units. Others include FrieslandCampina WAMCO Nigeria Plc (92,202), CSCS Plc (83,300), Niger Delta Exploration and Production (NDEP) Plc (10,484) while Afriland Properties Plc was the fifth most traded stock by volume with four units traded.
Also, VFD Group Plc ranked top among five most traded securities by value with N76.5 million. It was followed by FrieslandCampina WAMCO Nigeria Plc (N12.4 million), NDEP Plc (N3.1 million), CSCS Plc (N1.1 million) while Afriland Properties Plc recorded N5 worth of shares.
