NASD Investors Suffer N55.61bn Loss in Five Trading Days

By Adedapo Adesanya

Last week, the NASD Over-the-Counter (OTC) Securities Exchange lost 5.3 per cent or N55.61 billion after the market failed to close bullish in any of the five trading days.

Due to the bears’ dominance, the market capitalisation closed at N990.72 billion compared to the N1.05 trillion it ended in the preceding week.

Also, the NASD Securities Index (NSI) depleted by 42.24 points to settle at 752.59 points as against the 794.83 points it finished a week earlier.

It was observed that the decline suffered by NASD investors week was influenced by the negative movements in the prices of four stocks led by Niger Delta Exploration and Production (NDEP) Plc. It lost 20 per cent to settle at N180.00 per share in contrast to the previous week’s N225.00 per share.

Furthermore, FrieslandCampina depreciated by 19.64 per cent to trade at N88.40 per share compared with the N110.00 per share it closed the preceding week, UBN Property Plc went down by 9.5 per cent to N1.14 per unit from N1.26 per unit, while Central Securities Clearing System (CSCS) Plc decreased by 5.9 per cent to N16.00 per unit from N17.00 per unit.

However, Food Concepts Plc was the only price gainer of the week as its value improved by 7.5 per cent to quote at N1.00 per share in contrast to the previous week’s value of 93 kobo per share.

During the week, there was a 7.4 per cent decrease in the total value of securities traded by investors to N91.5 million from N98.8 million, but the trading volume rose by 27.9 per cent to 10.3 million units from 8.0 million units, while the number of trades appreciated by 18.6 per cent to 51 deals from 43 trades of the previous week.

Food Concepts Plc was the most transacted stock by volume at the close of business for the week, exchanging 8 million units, UBN Property Plc traded 1.3 million units, CSCS Plc traded 503,700 units, FrieslandCampina WAMCO Plc sold 158,238 units, while NDEP Plc transacted 147,596 units.

With N28.3 million worth of its shares sold, VFD Group Plc was the most traded stock by value last week, selling N28.3 million, NDEP Plc followed with N27.6 million, FrieslandcampmaPlc exchanged N14.7 million, CSCS Plc traded N8.2 million, while Food Concepts Plc recorded N8.0 million.

On a year-to-date basis, a total of 3.2 billion securities worth N20.6 billion have been traded by market participants in 1,244 deals.