NASD Exchange Records 2.1% Growth in Week 30 of 2022

By Adedapo Adesanya

Last week, which was the 30th trading week on the NASD Over-the-Counter (OTC) Securities Exchange in 2022, a growth of 2.1 per cent was recorded as the market capitalisation expanded by N20 billion to N1.031 trillion from the preceding week’s N1.010 trillion.

In the same vein, the NASD Securities Index (NSI) increased by 16.13 points in the week to settle at 783.05 points as against the 766.92 points it finished a week earlier.

Three stocks led by FrieslandCampina Wamco Nigeria Plc were the major contributors to the expansion achieved last week. The company’s stock grew by 11.00 per cent to N104.50 per unit from N94.14.

CitiTrust Holdings Plc gained 9.5 per cent to quote at N10.40 per share in contrast to the previous week’s N9.50 per share, while Niger Delta Exploration and Production (NDEP) Plc appreciated by 0.6 per cent to N211.22 per share from N210.00 per share.

Two securities shed weight in the five-day trading week, with Food Concepts Plc declining by 0.8 per cent to N17.95 per unit from N18.15 per unit and Central Securities Clearing System (CSCS) Plc shrinking by 5.9 per cent to N16.00 per share from N17.95 per share.

On the activity chart, the value of trades went down by 62.3 per cent to N33.8 million from N89.6 million, the volume of transactions decreased by 79.0 per cent to 873,608 units from 4.2 million units, while the number of deals dropped 14.5 per cent to 53 deals from 62 trades.

CSCS Plc was the most traded security in the week by volume with 393,900 units, NASD Plc transacted 230,800 units, CitiTrust Plc exchanged 105,000 units, NDEP Plc sold 73,654 units, while FrieslandCampina Plc traded 55,567 units.

But the most traded stock by value in the week was NDEP Plc with N15.6 million, followed by CSCS Plc for trading N5.9 million, FrieslandCampina Plc for exchanging N5.6 million, NASD Plc for selling N4.2 million, and CitiTrust Plc for posting N1.1 million.

From the first trading session of the year till last Friday, investors have transacted 3.2 billion securities worth N22.1 billion in 1,734 deals on the NASD exchange.