NASD Investors’ Portfolios Deplete by N6.47 in One Week

By Sodeinde Temidayo David, Adedapo Adesanya

The 32nd week of trading at the NASD Over-the-Counter (OTC) Securities Exchange saw investors lose N6.47 billion in the five days of transactions.

According to an analysis of trades at the unlisted securities market by Business Post, the market capitalisation dropped to N647.85 billion from N654.32 billion achieved in week 31.

Also, the NASD Security Index (NSI) fell by 7.45 points in the week to close at 783.95 points in contrast to 752.81 points of the preceding week.

The bearish outcome for the week was driven by Central Securities Clearing System (CSCS) Plc and FrieslandCampina WAMCO Nigeria Plc.

CSCS Plc depreciated by 6.8 per cent to N16.78 per share from N18.00 per share, while Friesland went down by 3.8 per cent to N122.24 per unit from N127.00 per unit.

The duo pressed down the gains printed by four stocks led by Nipco Plc, which appreciated by 10 per cent to settle at N77 per unit compared with the preceding week’s N70 per unit.

Food Concepts Plc gained 8.9 per cent to close at 86 kobo per share versus 79 kobo per share, Niger Delta Exploration & Production (NDEP) Plc appreciated by 3.5 per cent N259.85 per unit in contrast to N251.00 of the earlier week, while Nigerian Exchange (NGX) Group Plc rose by 2.9 per cent to trade at N17.01 per unit compared with the preceding week’s N16.53 per unit.

In terms of the trading activities, the value of stocks reduced in the week by 74.8 per cent to N264.3 million from N1.0 billion, the number of deals fell by 2.9 per cent to 99 trades from 102 trades, while the volume of securities transacted rose by 22.9 per cent to 37.9 million units from 30.9 million units of the previous week.

In the week, NASD Plc was the most active stock for selling 30 million units, NGX Group Plc traded 7.3 million units, CSCS Plc exchanged 368,100 units, Food Concepts Plc recorded 125,00 units, Friesland transacted 89,910 units.

As regards the value, NGX Group Plc was the most traded security for trading N121.7 million, NASD Plc followed with N105.1 million, NDEP Plc traded N18.2 million, Friesland exchanged N10.9 million, while CSCS Plc traded N6.2 million.

In the year so far, NASD investors have transacted a total of 1,901,752,571 shares worth N14.1 billion in 3531 deals.