By Adedapo Adesanya
The first trading week for the year 2022 at the NASD Over-the-Counter (OTC) Securities Exchange ended in bullish territory as investors gained N2.69 billion at the close of business.
This growth increased the market capitalisation of the bourse to N631.27 billion from the N629.03 billion achieved at the final trading week of 2021.
Data from the OTC exchange revealed that in the four-day trading week, the NASD Security Index (NSI) grew by 0.43 per cent or 3.18 points to 746.03 points from 742.85 points.
Business Post reports that last week’s positive outcome was inspired by Central Securities Clearing System (CSCS) Plc, which recorded a week-on-week growth of 4.4 per cent to trade at N19.05 per unit compared with the preceding week’s value of N18.25 per unit.
It was observed that in the week, Nipco Plc recorded a loss, though this could not affect the market. Its share price went down by 10.00 per cent to trade at N63.00 per unit compared to N70.00 per unit it closed a week earlier.
During the week, the trading value witnessed a 99.9 per cent decrease as securities worth N2.4 million were carried out in contrast to the N1.9 billion worth of securities transacted in the previous week.
Also, the trading volume depreciated by 99.9 per cent to 56,947 units from 99.6 million units of the earlier week, while the number of deals declined by 48.3 per cent to 15 trades as against the 29 deals executed at the last trading session of last year.
At the close of the week, CSCS Plc was the most traded security by volume with 40,700 units. FrieslandCampina WAMCO Plc came next as it traded 10,939 units, while Nipco Plc recorded 5,308 units.
In terms of the value of trades in the week, FrieslandCampina WAMCO Nigeria Plc topped the chart with N1.3 million, followed by CSCS Plc with N775,800, and Nipco Plc with N334,404.
In the year so far, investors have traded a total of 56,947 units of stocks valued at N2.4 million carried out in 15 deals, according to data from the exchange.
Modupe Gbadeyanka