NASD Index Drops 0.6% as Investors Lose N3.15bn in One Week

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) bourse last week (Week 34) ended in the negative territory as the unlisted securities index dropped 0.6 per cent to 709.17 points from 713.46 points the preceding week (Week 33).

Also, during the week, investors lost N3.15 billion at the market as the NASD OTC market capitalisation depreciated to N520.93 billion from N524.08 billion it ended a week earlier as a result of the negative movement in the prices of some stocks on the bourse.

However, there was a 267.25 per cent increase in the total value of shares traded during the week as investors traded a total of N176.8 million securities compared with N48.1 million stocks transacted in the previous week.

In the same pattern, the volume of shares traded during the week was 2,195,636.00 units compared to 813,582.00 units in the previous week, representing an increase of 169.9 per cent.

There was equally a rise in the number of deals executed at the exchange in the week as 43 deals were carried out, 22.9 per cent higher than the 35 deals done a week before.

On a year-to-date basis, the NASD OTC Securities Exchange recorded a positive performance, rising by 1.7 per cent, while the year-to-date transactions stood at 7,822,585,238 stocks worth N10.7 billion executed in 1,022 deals.

The week closed with FrieslandCampina WAMCO Nigeria Plc ranked top among five most traded securities by volume as it cleared 1.04 million units while Niger Delta Exploration and Production (NDEP) Plc was the fifth most traded stock by volume in week 34, with 135,544 units on record.

FrieslandCampina WAMCO Nigeria Plc also ranked top among top five most traded securities by value with N125.1 million while Firsttrust Mortgage Bank Plc stood as the fifth most traded Security by value for the week, raking in N226,072 from trades.

There was only a price gainer in the week and this was NDEP Plc, which currently holds a market capitalisation of N59.95 billion, closing the week at N330.58 per share after appreciating by 8.5 per cent from the previous close of N304.67 per share.

However, there were three decliners in the five-day trading week. FrieslandCampina Wamco Nigeria Plc, which currently holds a market capitalisation of N117.17 billion, closed 5.5 per cent lower to N120.01 per share from N127.05 per share.

Afriland Properties Plc, which currently holds a market capitalisation of N5.30 billion, went down by 7.7 per cent to N1.84 per share from N1.98 per share, while UBN Properties Plc, which currently holds a market capitalisation of N10.56 billion, declined by 10.0 per cent to N1.26 per share from N1.4 per share.