Adedapo Adesanya
By Adedapo Adesanya
Investors at the NASD Over-the-Counter (OTC) Securities Exchange lost N11.92 billion in value last week, marred by losses recorded by a few market bellwethers.
As a result, the total value of unlisted securities on the exchange reduced to N500.32 billion from the previous week’s N512.24 billion.
In the same vein, the NASD Security Index went down by 2.33 per cent or 16.61 points to close the week at 697.3 points as against 713.91 points of the preceding week.
It was observed that Niger Delta Exploration and Production (NDEP) Plc and Central Securities Clearing System (CSCS) Plc were largely responsible for the bearish outcome seen in the ninth trading week of this year on NASD.
The share price of NDEP depreciated by 7.8 per cent to settle at N270.00 per unit in contrast to the previous N292.82 per unit, while CSCS Plc lost 4.7 per cent to close at N15.72 per share versus N16.50 it ended a week earlier.
Despite the poor performance of the market last week, two companies recorded growth in their equity prices.
Friesland Campina WAMCO Plc gained 0.8 per cent to trade at N120.34 in contrast to the previous N119.43, while Acorn Petroleum Plc appreciated by 6.3 per cent to 17 kobo from 16 kobo.
On the activity chart, there was a 106.1 per cent increase in the trading value to N65.2 million from N31.6 million. The trading volume also rose in the week by 561.6 per cent to 2,449,670 units from 370,270 units, while the number of deals appreciated by 34.6 per cent to 35 deals from the previous week’s 26 deals.
Acorn Petroleum Plc was the most traded securities by volume with 1.1 million units. It was followed by Industrial and General Insurance (IGI) Plc (611,050 units); FrieslandCampina WAMCO Plc (509,904 units); Food Concepts Plc (125,000 units) and CSCS Plc (81,650 units).
However, Friesland Campina was the most active by value with N61.4 million; NDEP Plc trailed with N2.2 million; CSCS Plc with N1.3 million; Acorn Petroleum Plc with N188,496, and Food Concepts Plc with N100,000.
On a year-to-date basis, investors have traded 26.7 million units worth N667.2 million in 275 deals.
