Sun. Nov 24th, 2024

Investors Gain N10.94bn at NASD in 51st Trading Week

NASD investors

By Adedapo Adesanya

The 51st week of trading at the NASD Over-the-Counter (OTC) Securities Exchange saw investors gain N10.94 billion despite the main index sliding by 0.69 per cent.

Business Post reports that the value of the exchange rose as a result of the rights issue of VFD Group Plc, involving the addition of 7,452,054 units of securities of the company being admitted on the platform, increasing the total issued shares to 126,684,910 and market capitalization to N45.83 billion.

As a result, the market capitalisation of the NASD OTC exchange jumped to N622.23 billion from N611.29 billion it closed in Week 50.

But the NASD OTC Security Exchange Index dropped 5.08 points in the five-day trading week to close at 734.82 million in contrast to 739.90 points of the preceding week.

In the week, four companies recorded losses with NASD Plc depreciating by 30.7 per cent to settle at N18.70 per share compared with the previous week’s N27.00 per share.

Mass Telecom Innovation Plc lost 10 per cent to trade at 45 kobo per unit from 50 kobo per unit, Air Liquide Plc went down by 8.3 per cent to N5.50 per share from N6.00 per share, while Friesland Campina Wamco Nigeria Plc dropped 0.5 per cent to N118.43 per unit from N119.00 per unit.

However, the share price of UBN Property Plc appreciated in the week by 6.06 per cent to N1.05 per unit from 99 kobo per unit of the preceding week.

Data showed that last week, the value of securities transacted by investors surged by 1,450.7 per cent to N650.9 million from N41.9 million, while the deals rose 60 per cent to 32 trades from 20 trades, with the volume of trades increasing by 2,483.9 per cent to 26.4 million units from 1.0 million units of the previous week.

NASD Plc was the most traded stock with 26.2 million units, UBN Property Plc traded 150,000 units, FrieslandCampina WAMCO Nigeria Plc sold 128,186 units, Mass Telecom Innovation Plc recorded 10,000 units, while Air Liquide Plc exchanged 5,000 units.

Also, NASD was the top traded stock by value with \N634.9 million. FrieslandCampina WAMCO Nigeria Plc followed with N15.2 million, NDEP Plc traded N330,997, 11 Plc traded N260,000, while UBN Property Plc traded N157,500.

By 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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