Adedapo Adesanya
By Adedapo Adesanya
Investors gained N5.31 billion at the NASD Over-the-Counter (OTC) Securities Exchange in Week 10 on the back of buying pressure, which lifted the unlisted securities market by 0.53 per cent at the close of business.
As a result of this, the market capitalisation of the bourse closed at N621.67 billion compared to N618.66 billion of the previous week, while the NASD Securities Index (NSI) increased by 3.55 points to 734.16 points from 730.61 points.
Business Post reports that last week’s gains were spurred by two market bellwethers; Friesland Campina Wamco Nigeria Plc and NASD Plc.
The milk-producing firm appreciated in the week by 1.8 per cent to N125.16 per share from the previous closing price of N123.00 per share, while NASD Plc gained 25.8 per cent to settle at N10.45 per unit in contrast to N8.31 per unit of the preceding week.
On the flip side, Central Securities Clearing Systems (CSCS) Plc suffered a 0.1 per cent loss to trade at N18.40 per unit versus the previous week’s N18.41 per unit.
In the week, which had five trading sessions, the value of shares transacted by NASD investors increased by 250.3 per cent to N158.6 million from N45.3 million in the previous week.
However, the volume of stocks decreased by 68.6 per cent to 10.7 million units from the 33.9 million units achieved in the previous week, while the number of deals went down by 7.9 per cent to 35 trades from 38 trades.
At the close of the week, NASD Plc was the most traded security by value with N99.6 million. FrieslandCampina WAMCO Plc traded N47.9 million, Niger Delta Exploration and Production exchanged N6.6 million, CSCS Plc traded N4.5 million, while Nipco Plc recorded N49,680.
Also, NASD Plc was the most active stock by volume last week with the sale of 10 million units, FrieslandCampina WAMCO Plc recorded 382,851 units, CSCS Plc traded 243,900 units, NDEP Plc posted 33,000, while Afriland Plc traded 2,854 units.
In the year so far, the NASD Securities Index (NSI) has increased by 1.8 per cent, investors have transacted 731.1 million securities worth N14.9 billion in 454 deals.
