NASD Investors Gain N6.06bn in First Week of 2021

NASD Afriland Investors Call
Image Credit: NASD Twitter

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange opened the first trading week of 2021 on a strong note, raking N6.06 billion at the close of business last Friday.

This spurred the bourse’s market capitalisation to N532.00 billion from N525.94 billion it ended at the previous trading session of the year 2020.

It was a similar scenario with the NASD Unlisted Security Index (NSI), which appreciated by 1.15 per cent or 8.45 points to close the week at 741.45 points as against 733.00 points it previously finished.

This bullish outcome was boosted by the rise in the prices of two stocks on the exchange; Central Securities Clearing System (CSCS) Plc and Niger Delta Exploration and Production (NDEP) Plc.

Last week, CSCS, which closed with a market capitalisation of N79.50 billion, appreciated by 5.65 per cent to settle at N15.9 per share in contrast to the previous 15.05 per share, while NDEP, which closed with a market capitalisation of N63.49 billion, gained 2.94 per cent to trade at N350.00 per share versus the previous rate of N340.00 per share.

On the activity chart, there was a 230.1 per cent increase in the trading value to N15.1 million from N5.0 million, while the trading volume reduced by 90.1 per cent to 111,434.00 units from 1,123,675.00 units, with the number of deals rising by 62.5 per cent to 13 deals from 8 deals of the preceding week.

Furthermore, NDEP Plc ranked top among the five most traded securities by value with N9.4 million units. FrieslandCampina WAMCO Nigeria Plc recorded N4.9 million, NDEP Plc sold N728,268 securities, while Food Concepts Plc transacted N91,057 stocks.

In terms of the trading volume, CSCS Plc led with 45,980 units, FrieslandCampina WAMCO Nigeria Plc transacted 36,394 units, NDEP Plc sold 26,650 units, while Nipco Plc exchanged 2,500 units.

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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