NASD Investors’ Wealth Shrinks by N8.08bn in Week 33

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By Adedapo Adesanya

Investors at the NASD Over-the-Counter (OTC) Securities Exchange lost N8.08 billion last week to the bears.

As a result of this, the market capitalisation of the bourse closed last Friday at N639.77 billion compared to N647.85 billion it ended at the preceding Friday.

Also, the reduction in NASD investors’ wealth in the week by 1.3 per cent decreased the NASD Unlisted Security Index by 9.26 points to 736.07 points from 745.36 points.

Business Post reports that the bears rampaged six companies admitted on the exchange last week, causing the over one per cent loss.

UBN Property Plc depreciated by 9.1 per cent to close at N1.00 per share compared with the preceding week’s value of N1.10 per share.

Further, 11 Plc went down by 4.4 per cent to trade at N220.00 per unit versus the previous price of N230.00 per unit, Niger Delta Exploration & Production (NDEP) Plc dropped 1.9 per cent to quote at N255.00 per unit compared with the previous N259.85 per unit.

In addition, Friesland Campina Wamco Nigeria Plc fell by 1.8 per cent to N120.00 per share from N122.24 per share, Central Securities Clearing System (CSCS) Plc lost 1.2 per cent to finish at N16.58 per share in contrast to the previous week’s N16.78 per share, while Mixta Real Estate Plc declined by 0.5 per cent to N1.97 per unit from N1.98 per unit.

Last week, which was the 33rd trading week of the year, only a company posted a weekly growth and this was Nigerian Exchange (NGX) Group Plc. This firm’s stock price grew by 0.8 per cent to N17.14 per share from the preceding week’s N17.01 per share.

A look at the activity chart showed that there was a 23.7 per cent decrease in the total value of transactions to N201.7 million from N262.3 million, while the volume of stocks reduced by 70.9 per cent to 11.0 million units from 37.9 million units recorded in week 32, with the number of deals falling by 4.0 per cent to 95 trades from 99 trades of the prior week.

A breakdown indicated that NGX Group Plc was the most traded security by volume with 9.6 million units. CSCS Plc traded 691,452 units, Food Concepts Plc exchanged 500,000 units, UBN Property Plc traded 89,000 units while Friesland Plc recorded 54,686 units.

In terms of the value of trades in the week, NGX Group Plc also topped with N163.3 million, NDEP Plc recorded N12.7 million, CSCS Plc traded N11.5 million, 11 Plc posted N6.9 million, while Friesland Plc transacted N6.6 million.

On a year-to-date basis, the NSI has posted a decline of 0.8 per cent, with investors trading 1.9 billion stocks worth N14.3 billion in 3,626 deals.

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