By Adedapo Adesanya
In three days of trading due to the Muslim Eid-el-Kabir holidays, investors at the NASD OTC Securities Exchange lost N4.2 billion.
This reduced the market capitalisation to N514.80 billion during the week from N518.99 billion in the preceding week, which ended on Friday, July 24.
In the short week of trading (Week 31), the index of the NASD OTC market closed negative by 0.81 per cent to 700.82 points as against the previous 706.52 points.
However, there was a 791.9 per cent increase in the total value of trades during the week as investors bought and sold shares worth N70.6 million in contrast to the N7.9 million of the previous week.
In the same pattern, the trading volume rose to 1,952,219.00 units from 99,970 units in the previous week, representing a 1,852.8 per cent growth.
There was likewise a 46.9 per cent increase in the number of deals carried out in the week, 47, compared to 32 deals in the previous week.
In terms of top traded securities by volume, market bellwether, Central Securities Clearing System (CSCS) Plc ranked top among five most traded securities by volume, while UBN Properties Plc was the fifth most traded stock by volume.
On the other hand, FrieslandCampina WAMCO Nigeria Plc ranked top among the top five most traded securities by value, while UBN Properties Plc closed as the fifth most traded security by value for the week.
For the week, there was only one security with a positive movement in price and this was FrieslandCampina, which currently has a market capitalisation of N120.35 billion. It closed the week at N123.27 per share compared with the previous value of N121.15 per share, representing a 1.75 per cent increase.
However, there were two decliners led by Niger Delta Exploration and Production (NDEP) Plc which currently holds a market capitalisation of N49.7 billion. The stock closed the week at N273.82 per share after shedding 10.7 per cent of its previous value of N306.65 per cent.
The second stock, Afriland Properties Plc, which has a market capitalisation of N2.7 billion, closed the week at N1.98 per share following the loss of 10 per cent of the prior week’s closing price of N2.20 per share.
