NASD Bourse Grows 2.6% in Week 19

By Adedapo Adesanya

In one week, which was the 19th trading week of the year, the NASD Over-the-Counter (OTC) Securities Exchange closed on a positive note as it gained 2.6 per cent.

In the five trading sessions, the NASD unlisted securities index (NSI) appreciated by 20.21 points to close at 807.75 points as against the 787.54 points it closed the previous week.

In the same vein, the market capitalisation of the NASD bourse improved by N26.46 billion to N1.06 trillion from N1.03 trillion.

Business Post reports that the positive momentum was triggered by four securities led by Central Securities Clearing System (CSCS) Plc, which increased its value by 18.2 per cent to N17.00 per unit from N15.83 per unit.

Friesland Campina Wamco Nigeria Plc gained 9.1 per cent to trade at N120.00 per share compared with the previous week’s N110.00 per share, Food Concepts Plc rose by 4.8 per cent to 87 kobo per share from 83 kobo per share, while Niger Delta Exploration and Production (NDEP) Plc grew by 3.5 per cent to N210.00 per unit from N203.00 per unit.

However, the share price of Vital Products Plc depreciated by 9.9 per cent in the trading week to N2.10 per unit from the preceding week’s N2.33 per unit.

In the week, there was a 1,270.2 per cent increase in the trading value to N2.4 billion from N176.7 million, the trading volume, however, fell by 96.1 per cent to 33.9 million units from 2.1 billion units, while the number of deals increased by 121.9 per cent to 71 deals from 32 deals.

The most traded stock for the week by volume was Food Concepts Plc with 25 million units, VFD Group Plc posted 7.3 units, NDEP Plc exchanged 810,476 units, CSCS Plc posted 278,850 units, while FrieslandCampina Plc transacted 257,900 units.

But the most traded stock by value for the week was VFD Group Plc with N2.2 billion, NDEP Plc traded N155.0 million, FrieslandCampina Plc posted N30.2 million, Food Concepts Plc printed N21.8 million, while CSCS Plc exchanged N4.5 million.

Since the market started trading in 2022, investors have transacted 3.1 billion units worth N20.3 billion in 1,092 deals, with the exchange appreciating by 8.7 per cent.