By Adedapo Adesanya
Despite the 49.4 percent week-on-week drop in the total value of securities traded at the NASD Over-the-Counter Securities Exchange, the total value of stocks on the bourse increased last week by N10.2 billion.
According to data from the NASD Exchange, at the close of transactions last week, the 27th of this year, the exchange grew by 1.98 percent.
Consequently, the NASD unlisted securities index increased by 13.95 points to close the week at 716.96 points as against the 703.01 points of Friday, June 26, 2020.
Equally, the market capitalisation of the exchange, which is the cumulative value of stocks on the platform, rose by N10.2 billion to N526.65 billion from N516.41 billion in the preceding week.
However, the total value of shares transacted by investors depreciated by 49.4 percent to N13.4 million from the N26.5 million recorded in the previous week.
Also, the volume of securities traded by market participants went down by 96.1 percent to 224,488 units from 5.8 million units in the previous week.
Nevertheless, the number of deals executed at the market in the five-day trading week increased by 17.24 percent as a total of 34 deals were carried out compared with the previous week’s 29 deals.
As at last week, the total trade activity for the year was valued at N10.1 billion, while the total volume of stocks traded for the year stood at 7.8 billion units.
In terms of top traded securities by volume and value, Central Securities Clearing System (CSCS) Plc ranked top in the respective category, while Nipco Plc was the least in the same pattern.
On the gainers’ table, CSCS Plc claimed the top spot after improving its share price by 14.8 percent to N14.98 per share from N13.05 per share. The market capitalisation of the firm is presently at N74.9 billion.
FrieslandCampina Wamco Nigeria Plc, which currently has a market capitalisation of N117.99 billion, increased its share value by 0.72 percent to N120.86 per share from N120 per share the previous week.
In addition, Nipco Plc, a firm with a market capitalisation of N12.25 billion, gained 0.48 percent to close the week at N65.31 per share in contrast to N65 it ended a week earlier.
On the other hand, Afriland Properties Plc was the only price loser of the week, going down by 0.22 percent to N1.98 per share compared with the previous N2.20 per share. The company has a market capitalisation of N27.20 billion.
The blockchain brings new financing options to the business market. For example, Bitcoin Cash casino has adapted to only using cryptocurrency. This way, it makes it easier for their customers to deposit and withdraw in a BCH casino. Entrepreneurs have taken note of this and are looking to invest more in crypto than in fiat markets.
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