Adedapo Adesanya
By Adedapo Adesanya
Investors at the NASD Over-the-Counter (OTC) Securities Exchange lost N6.8 billion last week (Week 28) as the market’s capitalization closed at N519.90 billion compared to N526.65 billion it finished at the preceding week.
The NASD unlisted securities index (NSI) also closed negative by 1.28 per cent to close the week at 707.77 points as against 716.96 points it ended a week earlier.
This happened despite an increase in the amount of funds used to trade securities at the market during the week as well as a rise in the number of deals executed.
Business Post reports that there was a 346.4 per cent increase in the total value of shares traded by market participants during the week. Stocks worth N59.8 million were traded by NASD Investors last week compared with N13.4 million in the previous week.
Also, a total of 36 deals executed last week, higher than the previous week’s 34 deals by 5.9 per cent.
In addition, the volume of shares transacted in the week increased by 4,683 per cent to 10.7 million units from 224,48 units in week 27.
Further on the activity chart, Food Concept Plc ranked as the top among four most traded securities by volume and VFD Group Plc as the fourth most traded stock by volume. Food Concept Plc traded 10 million units of its stock, while VFD Group Plc sold 110,000 units.
In terms of value, the week closed with FrieslandCampina WAMCO Nigeria Plc ranked top among four most traded securities by value and Niger Delta Exploration and Production (NDEP) Plc stood as the fourth most-traded security by value for the week. Friesland pulled N30.2 million while NDEP Plc recorded N5.9 million.
The NASD OTC bourse closed the week with a positive movement in the prices of three of its stocks. Afriland Properties Plc, which currently holds a market capitalization of N2.9 billion closed the week at N2.14 representing an 8.08 per cent increase from the previous closing price of N1.98.
Food Concept Plc, which currently holds a market capitalization of N4.4 billion closed the week at N0.75 representing a 7.14 per cent increase from the previous close N0.7.
FrieslandCampina WAMCO Nigeria Plc, which currently holds a market capitalization of N118.1 billion closed the week at N121 representing a 0.12 per cent increase from the previous closing price of N120.86.
The week ended with one decliner, being Central Securities Clearing System (CSCS) Plc which currently holds a market capitalization of N67.5 billion closed the week at N13.5 after dropping 9.9 per cent from the previous week’s closing value N14.98.
On a year-to-date basis, the NASD OTC Exchange Market closed last week on a positive note at 1.47 per cent.
The YTD transactions at the exchange stood at 7.8 billion units worth N10.2 billion traded in 766 deals.
