NASD Investors Grow Wealth by N1.45bn in Five Days

August 31, 2020
NASD Afriland Investors Call
Image Credit: NASD Twitter

By Adedapo Adesanya

Investors trading unlisted securities at the NASD Over-the-Counter (OTC) Securities Exchange in Nigeria grew their wealth last week by N1.45 billion, data from the exchange showed.

This was helped by the 0.28 per cent weekly growth recorded by the market capitalisation, which closed at N522.39 billion compared with the N520.93 billion achieved in the preceding week.

In the same pattern, the market’s benchmark index, the NASD Unlisted Securities Index (NSI), appreciated by 0.28 per cent or 1.98 points to close at 711.15 points as against 709.17 points of the earlier week.

The bullish outcome was a result of positive movement in the price of the single price gainer, FrieslandCampina Wamco Nigeria Plc, which currently has a market capitalisation of N118.64 billion. The equity price of the company appreciated by 1.49 or 1.24 per cent to close the week at N121.50 per share versus N120.01 per share of the preceding week.

However, there was no price decliner in the five-day trading week.

But the week recorded a drop in the number of deals carried out by market participants, 46.5 per cent or 20 deals as only 23 deals were executed in the week compared with the 43 trades handled in the week before.

Equally, there was a 96.9 per cent decrease in the total value of trades during the week as NASD investors traded a total of N5.4 million worth of stocks compared to N176.8 million in the previous week.

In the same pattern, the volume of transactions reduced by 88.6 per cent to 250,906 units from 2,195,636 units in the previous week.

In terms of top traded securities by volume (week-on-week), Central Securities Clearing System (CSCS) Plc ranked top among three most traded securities with 236,535 units, followed by FrieslandCampina WAMCO Nigeria Plc with 13,117 units and Niger Delta Exploration and Production (NDEP) Plc as the third most traded stock by volume as it exchanged 1,254 units.

CSCS Plc equally ranked top among three most traded securities by value (week-on-week) with N3.3 million, FrieslandCampina WAMCO Plc came next with N1.6 million, while NDEP Plc took the third spot with N376,197.

On a year-to-date note, the bourse closed Week 35 positive with an appreciation of 1.95 per cent and the year-to-date activity chart showed that 7,822,836,144 units of securities worth N10.7 billion have been transacted by investors in 1045 deals.

Adedapo Adesanya

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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