Adedapo Adesanya
By Adedapo Adesanya
The market environment at the NASD Over-the-Counter (OTC) Securities Exchange was further weakened last week as a result of the 0.49 per cent decline recorded at the eighth trading week of 2021.
In the week, NASD investors lost N7.37 billion to reduce the market capitalisation of the exchange to N512.24 billion from N514.76 billion it finished in the seventh trading week.
In the same vein, the NASD Security Index (NSI) decreased by 3.52 points to settle at 713.91 points as against 717.43 points it ended a week earlier.
Business Post reports that the dominance of the bears at the unlisted securities market was caused by the negative movement in the prices of stocks on the bourse.
Niger Delta Exploration and Production (NDEP) Plc suffered a 2.98 per cent loss to close at N292.82 per unit in contrast to N301.84 per unit it traded the preceding week.
Also, FrieslandCampina WAMCO Nigeria Plc went down by 2.82 per cent to trade at N119.43 per share versus the previous N122.90 per share.
However, there was a price gainer during the week, though it was not enough to sway the market to the bulls. Central Securities Clearing System (CSCS) Plc appreciated by 3.1 per cent to quote at N16.50 per unit compared with the previous rate of N16 per unit.
During the week, there was a 62.4 per cent decrease in the total value of shares traded by investors; N31.6 million compared to N84.2 million of the previous week.
There was equally a decline in the total volume of securities traded by investors by 85.4 per cent as 370,270 units exchange hangs as against 2,535,707 units in the previous week.
Also, the total number of deals decreased by 39.5 per cent as the bourse published 26 deals compared to 43 deals on record at the preceding week.
According to data from the NASD, CSCS Plc ranked top among the five most traded securities by volume with 158,000 units. Nipco Plc traded 83,332 units, FrieeslandCampina transacted 82,585 units, NDEP Plc exchanged 46,348 units, while Mixta Real Estate Plc traded 5 units.
In terms of the top traded securities by value, NDEP Plc led the chart with N13.6 million. FrieslandCampina traded N9.9 million, Nipco Plc transacted N5.7 million, CSCS Plc exchanged N2.5 million, while Mixta Real Estate Plc sold N9.90.
A look at the activity chart on a year-to-date basis showed that investors have traded 24,201,001 stocks worth N602.1 million in 240 deals. Also, the unlisted securities market has lost 3.7 per cent in the year.
