NASD Investors Rake N3.5bn Profit in Week 20

By Adedapo Adesanya

Investors at the NASD Over-the-Counter (OTC) Securities Exchange gained N3.5 billion last week on the back of bargain hunting.

The unlisted securities space grew by 0.7 per cent in the 20th trading week of the year and this expanded the market capitalisation of the bourse to N549.74 billion from N546.2 billion, while the NASD Securities Index (NSI) rose by 3.5 points to 700.8 points from 697.3 points.

Business Post reports that the gains were buoyed by the buying pressure on Nigerian Exchange (NGX) Group Plc and FrieslandCampina WAMCO Nigeria Plc.

The NGX Group appreciated by 5.3 per cent in the five-day trading week to sell at N23.42 per share compared with the previous week’s N22.25 per share, while Friesland gained 2.9 per cent to settle at N133.88 per unit versus N130.00 per unit of the preceding week.

There was a price loser last week and this was Central Securities and Clearing System (CSCS) Plc as its share price went down by 0.3 per cent to N17.60 per unit compared with the N17.65 per unit it finished the earlier week.

The most traded stock in the week by volume was NGX Group as it sold 33.3 million units. CSCS Plc traded 229,688 units, Niger Delta Exploration and Production (NDEP) Plc exchanged 44,831 units, Afriland Properties Plc transacted 44,831 units, while Friesland traded 33,579 units.

Also, NGX Group was the most traded stock by value last week with the sale of shares worth N704.2 million. NDEP Plc recorded N14.6 million, Friesland posted N4.4 million, CSCS Plc recorded N3.9 million, while Air Liquide Plc had N120,000.

At the close of transactions, there was an 8.9 per cent increase in the total trading value as investors trade shares worth N727.3 million compared with N667.9 million of the previous week.

Also, there was a 26.7 per cent increase in the number of deals as 223 trades were executed versus the 176 deals recorded in week 19.

However, the total trading volume decreased by 53.2 per cent as only 33,678,532 securities exchanged hands in contrast to the 71,915,978 securities transacted in the previous week.

In the year so far, investors have traded a total of 331,286,830 units of stocks valued at N7.1 billion in 1,640 deals.