By Adedapo Adesanya
Investors lost N18.87 billion or 3.5 per cent week-on-week at the NASD Over-the-Counter (OTC) Securities Exchange last week.
In the week 23 of this trading year, the bourse’s market capitalisation closed at N530.40 billion compared to N549.61 billion it finished at week 22.
In the same vein, the NASD Securities Index (NSI) went down by 27.03 points during the five-day trading week to 746.19 points from 773.22 points.
Business Post reports that last week’s loss was influenced by five companies and they ensured that four of the five trading sessions were under the control of the bears.
FrieslandCampina Wamco Plc led the losers’ gain as a result of the 9.6 per cent decline it suffered, leaving its share price at N116.17 per unit in contrast to the previous week’s N128.50 per unit.
Niger Delta Exploration & Production (NDEP) Plc depreciated in the week by 6.8 per cent to N279.69 per share from the previous week’s N300 per share.
Nipco Plc went down by 5.0 per cent to N70.00 per unit from N73.70 per unit, Nigerian Exchange (NGX) Group Plc depreciated by 4.4 per cent to N19.89 per share from N20.80 per share, while Central Securities and Clearing System (CSCS) Plc dropped 3.0 per cent to N18.00 per unit from N18.56 per unit.
It was observed that the week had no single weekly price gainer and on the activity chart, there was a 35.7 per cent increase in the total value of securities transacted at the exchange to N301.0 million from N221.9 million recorded in the previous week.
Also, the volume of stocks increased by 20.4 per cent to 14,988,016 units from the previous week’s 12,454,168 units, while the number of deals decreased by 24.8 per cent to 152 deals from 202 deals.
At the close of the week, NGX Group was the most traded securities by volume with 11.6 million units, followed by Food Concept Plc with 2 million units, CSCS Plc with 905,141 units, Friesland with 208,923 units and UBN Property Plc with 130,700 units.
In terms of the value of trades in the week, NGX Group also topped with N236.0 million, Friesland recorded N24.8 million, NDEP Plc traded N18.0 million, CSCS Plc posted N14.9 million, while Nipco Plc had N5.6 million.
In the year so far, the NASD OTC Exchange has gained 0.6 per cent, with investors trading 383,544,271 stocks worth N8.4 billion in 2228 deals.
