NASD Investors Count N9.1bn Loss in One Week

By Adedapo Adesanya

The 46th week of trading at the NASD Over-the-Counter (OTC) Securities Exchange saw investors lose N9.1 billion as trading activity declined in the five-day trading week.

According to the weekly NASD market review and analysis by Business Post, the market capitalisation dropped to N616.04 billion from N625.55 billion in week 45.

Also, the NASD Security Index (NSI) fell by 11.51 points to close at 745.65 points in contrast to 757.16 points.

Two stocks were responsible for the decline printed by the alternative exchange in Nigeria led by UBN Property Plc, which depreciated by 9.1 per cent to sell for 90 kobo per share compared with the preceding week’s 99 kobo per share.

The second price loser was FrieslandCampina Wamco Nigeria Plc as its price declined by 7.3 per cent to trade at N120.52 per unit in contrast to the previous week’s rate of N130.00 per unit.

In the week, only one price gainer was recorded and this was Niger Delta Exploration and Production (NDEP) Plc and it gained 0.7 per cent to sell for N228.99 per share in contrast to N227.34 per share of the earlier week.

On the activity chart, the trading value depleted by 34.4 per cent to N16.9 million from N25.8 billion, the trading volume dropped 26.9 per cent to 782,454 units from 1.1 million units, while the number of deals went down by 23.4 per cent to 36 deals from 47 deals carried out in the preceding week.

Last week, UBN Property Plc was the most traded stock by volume with 600,000 units, FrieslandCampina WAMCO Nigeria Plc closed with 71,794 units, CSCS Plc traded 71,440 units, NDEP Plc recorded 28,360 units, Food Concepts Plc exchanged 10,500 units.

On the flip side, FrieslandCampina WAMCO Nigeria was the most traded stock by value with a turnover of N8.6 million, followed by NDEP Plc with N6.5 million, CSCS Plc with N1.3 million, UBN Property Plc with a turnover of N540,000 and VFD Group Plc with a turnover of N9,450.

In the year so far, NASD investors have transacted a total of 12.8 billion units worth N29.9 billion in 4797 deals.