NASD Investors Gain N12.34bn in One Week

By Adedapo Adesanya

Traders of unlisted stocks in Nigeria gained about N12.34 billion on the floor of the NASD Over-the-Counter (OTC) Securities Exchange last week, the 25th trading week of 2023.

This was because the alternative bourse appreciated by 1.36 per cent on a week-on-week basis as the demand for stocks on the platform increased, according to data gathered by Business Post.

Consequently, the market capitalisation of the trading platform increased to N1.038 trillion from the N1.026 trillion it closed in the preceding week, as the NASD Unlisted Securities Index (NSI) went up by 10.08 points to wrap the week at 750.82 points compared with 740.74 points recorded at the previous week.

In the week, there was a 1,833.8 per cent surge in the total value of transactions to N1.5 billion from N80.2 million, the volume of trades similarly jumped by 86.9 per cent to 25.2 million units from 13.5 million units in the previous week, and the number of deals decreased by 15.8 per cent to 96 trades from the 114 trades posted a week earlier.

Central Securities Clearing System (CSCS) Plc, FrieslandCampina Wamco Nigeria Plc, UBN Property Plc, and Purple Real Estate were the price gainers of the week, while Niger Delta Exploration and Production (NDEP) Plc and Afriland Properties Plc were the price losers.

CSCS Plc gained 15.3 per cent to sell at N18.10 per unit compared with the earlier week’s value of N15.70 per unit, FrieslandCampina Wamco Plc appreciated by 1.4 per cent to N70.96 per share from N70.00 per share, UBN Properties Plc improved by 3.3 per cent to 95 Kobo per share from 92 Kobo per share, and Purple Real Estate Plc rose by 0.2 per cent to N5.21 per unit from N5.20 per unit.

On the flip side, NDEP Plc dropped 0.3 per cent to quote at N250.12 per share versus N250.83 per share, and Afriland Properties Plc depleted by 0.4 per cent to close at N2.62 per unit versus N2.63 per unit.

At the close of the week, VFD Group Plc was the most traded stock by value with N1.4 billion, NDEP Plc followed with N125.4 million, FrieslandCampina Wamco Nigeria Plc posted N24.7 million, Purple Real Estate Plc recorded N12.5 million, and UBN Property Plc sold N11.9 million.

UBN Property Plc finished the week as the most traded security by volume with 12.5 million units, VFD Group Plc traded 6.1 million units, Purple Real Estate Plc exchanged 2.4 million units, Geo-Fluid Plc transacted 2.00 million units, and CSCS Plc traded 670,000 units.

In the year so far, NASD investors have traded 1.77 billion units of securities worth N7.39 billion in 1,658 deals.