NASD Index Rises 0.83% in Week 39

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange closed Week 39 mixed as the unlisted securities index rose by 0.83 per cent, while the market capitalisation depreciated by 2.63 per cent after VFD Group Plc finally delisted after three years of trading on the platform.

According to data from the bourse, the NASD index went up by 6.70 points to 815.65 points from 808.95 points, while the value of the exchange shrank by N30 billion to N1.110 trillion from N1.140 trillion.

In the week, Nipco Plc improved its value by 9.8 per cent to close at N95.00 per share versus Week 38’s N86.52 per share, Industrial and General Insurance (IGI) Plc rose by 8.0 per cent to end at 27 Kobo per unit compared with 25 Kobo per unit, Food Concepts Plc grew by 4.6 per cent to N1.60 per share from N1.53 per share, FrieslandCampina Wamco Plc expanded by 3.7 per cent to N74.90 per unit versus the previous week’s N72.20 per unit, Acorn Petroleum Plc gained 2.7 per cent to trade at 38 Kobo per share compared with the earlier week’s 37 Kobo per share, and UBN Property Plc increased by 2.5 per cent to N1.25 per unit versus N1.22 per unit.

Last week, the volume of stocks traded during the week dipped by 90.9 to 2.61 million units from the 28.7 million units achieved in the previous week, the value of transactions decreased by 75.1 per cent to N35.5 million from N142.4 million, and while the number of deals depleted by 43.62 per cent to 53 deals versus the 94 deals executed in Week 38.

At the close of the week, Aradel Plc was the most traded stock by value with N15.69 million, FrieslandCampina Wamco Plc traded N10.3 million, Central Securities Clearing System (CSCS) Plc exchanged N5.3 million, UBN Property Plc transacted N2.3 million, and Nipco Plc traded N1.7 million.

In terms of the volume of trades in the week, UBN Property Plc topped with 1.9 million units, CSCS Plc followed with 0.31 million units, FrieslandCampina Wamco Plc posted 0.14 million units, Acorn Petroleum Plc recorded 0.1 million units, and IGI Plc traded 0.1 million units.