NASD Investors Count Losses as N8.14bn ‘Vaporises’ from Portfolios

December 21, 2020
Investors and Exporters segment

By Adedapo Adesanya

It was a week of losses for investors at the NASD Over-the-Counter (OTC) Securities Exchange as the 51st trading week of the year ended in the negative territory.

During the five-day trading week, the unlisted securities market depreciated by 1.49 per cent and this came on the back of losses suffered by three main stocks admitted on the exchange.

As a result, the portfolios of investors depreciated by N8.14 billion and made the market capitalisation of the bourse to reduce to N537.27 billion from N545.41 billion it ended in the preceding week.

In the same vein, the situation depleted the NASD Unlisted Security Index (NSI) by 10.95 points, closing for the week at 722.82 points as against 733.77 points of the earlier trading week.

According to data from the NASD Exchange, FrieslandCampina WAMCO Nigeria Plc, which currently holds a market capitalisation of N126.92 billion, depreciated by 3.70 per cent to settle at N130 per share compared with N135 per share it finished at week 50.

On its part, the Central Securities Clearing System (CSCS) Plc, which currently holds a market capitalisation of N75.00 billion, lost 2.60 per cent to end at N15 per unit as against N15.40 per unit of the earlier week.

Also, the Niger Delta Exploration and Production (NDEP) Plc, which currently holds a market capitalisation of N55.33 billion, depreciated by 2.22 per cent to finish at N305.00 per share in contrast to the previous week’s N311.94 per share.

On the activity chart, there was a 64.6 per cent decrease in the trading value last week as securities worth N94.5 million exchanged hands compared with the earlier week’s N266.7 million.

Equally, the trading volume reduced by 16.8 per cent to 5,370,977.00 units from 6,456,444.00 units achieved in the previous week, while the number of deals decreased by 60.5 per cent to 15 deals from 38 deals in the comparative periods.

Business Post reports that the week closed with CSCS Plc ranked top among the five most traded securities by value with N72.2 million, while NDEP Plc recorded N16.2 million, FrieslandCampina WAMCO Nigeria Plc had N6.0 million, with Food Concepts Plc at N91,057.

In terms of the trading volume, CSCS Plc also led with 5.2 million units, Food Concepts Plc followed with 113,821 units as NDEP Plc traded 53,000 stocks, while FrieslandCampina WAMCO Nigeria Plc transacted 46,346 securities.

Since the first trading session of this year till last Friday, a total of 7.926 billion shares worth N12.6 billion have been traded in 1,476 deals, while the year-to-date return stood at 3.6 per cent.

Adedapo Adesanya

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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