By Adedapo Adesanya
The 41st week of trading at the NASD Over-the-Counter (OTC) Securities Exchange closed with a N24.3 billion loss largely as a result of the exit of the Nigerian Exchange (NGX) Group Plc from the platform.
According to the weekly NASD market review and analysis by Business Post, the market capitalisation dropped to N616.99 billion from N641.28 billion in Week 40.
NGX Group Plc exited the bourse as it listed its stocks by introduction on the floor of the Nigerian Exchange (NGX) Limited, which is its demutualised exchange.
On the other hand, the NASD Security Index (NSI) rose in the week by 1.22 points to close at 746.8 million in contrast to 737.80 points of the preceding week.
Data showed that the market saw a 500.6 per cent increase in the total value of transactions in the week to N584.5 million from N97.3 million, while the total volume of trades rose by 10,546.9 per cent to 1.1 billion units from 10.3 million units, with the number of deals decreasing by 63.6 per cent to 40 deals from 110 deals.
During the week, there were two price decliners and two price advancers on the NASD bourse with the losers led by Central Securities Clearing System (CSCS) Plc as a result of the 2.4 per cent fall it posted to settle at N16.60 per share compared with the previous rate of N17.00 per share.
Also, Niger Delta Exploration and Production (NDEP) Plc went down by 1.0 per cent to trade at N245.00 per unit in contrast to N247.50 per unit of the preceding week.
On the gainers’ side, Afriland Properties Plc topped with a growth of 8.6 per cent to finish at N1.14 per share compared with N1.05 per share of the earlier week, while FrieslandCampina WAMCO Nigeria Plc gained 8.5 per cent to trade at N128.00 per unit versus the previous week’s N118.00 per unit.
Lighthouse Financial Service Plc was the most traded stock by volume with 1.1 billion units. It was followed by UBN Property Plc with 3 million units, First Trust Microfinance Bank Plc with 2.1 million units, CSCS Plc with 853,000 units, and NASD Plc with 721,000 units.
Also, Lighthouse Financial Service Plc was the most active by value with N544.2 million, CSCS Plc followed with N15.0 million, NDEP Plc traded N10.3 million, NASD Plc exchanged N8.4 million, while UBN Property Plc transacted N2.9 million.
On a year-to-date basis, investors have traded 12.8 billion securities worth N29.7 billion in 4,564 deals.
Modupe Gbadeyanka