By Adedapo Adesanya
The 16th trading week at the NASD Over-the-Counter (OTC) Securities Exchange closed on a negative note as the bourse shed weight by 1.66 per cent due to profit-taking.
This resulted in the decline in the market capitalisation of the NASD exchange by N17.05 billion to N1.01 trillion from N1.03 trillion in the preceding week.
Also, during the four-day trading week, the NASD Securities Index (NSI) depleted by 12.97 points to settle at 767.28 points as against the 780.25 points it finished a week earlier.
Business Post reports that the loss suffered by the unlisted securities market last week was influenced by the negative movements in the prices of Afriland Properties Plc, Food Concepts Plc, FrieslandCampina WAMCO Nigeria Plc and 11 Plc.
FrieslandCampina depreciated by 7.0 per cent to N185.96 per share from N200.00 per share, Afriland Properties Plc dropped 7.4 per cent to N1.00 per unit from N1.08, Food Concepts Plc went down by 7.4 per cent to 75 kobo per share from 81 kobo per share, while 11 Plc declined by 3.9 per cent to settle at N200.00 per share in contrast to the previous week’s N208.00 per share.
During the week, there was a 219.3 per cent increase in the total value of securities traded by investors to N476.1 million from N149.9 million, the total volume of stocks rose by 186.9 per cent to 12.8 million units from 4.5 million units, while the number of deals decreased by 27.1 per cent to 86 deals from 118 deals.
The most active stock for the week by volume was Food Concepts Plc with 10 million units, Niger Delta Exploration and Production (NDEP) Plc recorded 1.8 million units, Friesland printed 589,863 units, Afriland had 197,770 units, while 11 Plc closed with 114,868 units.
In terms of the most traded stock by value last week, NDEP Plc was on top of the chart with N325.3 million, Friesland recorded N112.6 million, 11 Plc had N28.1 million, Food Concepts Plc posted N7.5 million, while NIPCO Plc recorded N1.6 million.
On a year-to-date basis, NASD investors have transacted a total of 3.0 billion securities worth N17.2 billion in 846 deals, with the exchange posting a YtD gain of 3.29 per cent.
