Adedapo Adesanya
By Adedapo Adesanya
For another trading week, the NASD Over-the-Counter (OTC) Securities Exchange depreciated by 0.04 per cent on the back of profit-taking by traders.
Business Post reports that the NASD investors lost N360 million in the five-day trading week, leaving the market capitalisation of the bourse at Week 48 at N933.35 billion compared with Week 47’s value of N933.71 billion.
Data showed that three stocks were responsible for the loss recorded by the unlisted securities exchange in the week, with Capital Bancorp Plc declining by 23.4 per cent to close at N2.26 per unit compared with the previous session’s N2.95.
Further, UBN Property Company Plc went down by 10.9 per cent to finish at 81 Kobo per share versus the preceding week’s 91 Kobo per share, while FrieslandCampina Wamco Nigeria Plc shed 0.2 per cent to end at N66.50 per share versus N66.63 per share.
As a result of the slides, the NASD OTC Securities Index (NSI) retreated by 0.28 basis points to close the week at 710.30 points against 710.58 points of the preceding week.
Last week, there was a 14.7 per cent increase in the total value of transactions to N41.9 million from N36.6 million.
However, the volume of stocks decreased by 56.3 per cent to 1.4 million units from 3.2 million, as the number of deals declined by 34.2 per cent to 41 trades from the prior week’s 55 trades.
At the close of the week, UBN Property Plc was the most traded securities by volume with the sale of 610,000 units, trailed by FrieslandCampina Wamco Plc with 503,427 units, Central Securities Clearing System (CSCS) Plc exchanged 269,394 units, VFD Group Plc transacted 13,000 units, and Niger Delta Exploration and Production (NDEP) Plc traded 1,410 units.
In the year so far, the NSI year-to-date returns have decreased by 2.0 per cent, with investors trading a total of 3.5 billion units of stock valued at N27.0 billion in 2,242 deals.
