NASD Market Capitalisation Increases N1.09bn in One Week

By Adedapo Adesanya

The fourth week of trading in 2022 at the NASD Over-the-Counter (OTC) Securities Exchange was bullish with investors gaining N1.09 billion for five trading sessions.

According to the weekly NASD market review and analysis by Business Post, the market capitalisation rose to N631.55 billion in the week from N630.46 billion in Week 3.

In terms of the NASD OTC Securities Exchange Index, it rose by 0.17 per cent or 1.28 points to close at 745.82 million in contrast to 744.54 points of the preceding week.

The growth posted by the exchange last week was influenced by Central Securities Clearing Systems (CSCS) Plc, which grew by 3.2 per cent to N20.00 per share compared with the previous week’s N19.38 per share.

However, four companies depreciated in value in the week, with NASD Plc losing 20.32 per cent to settle at N14.90 per unit compared with the earlier week’s N18.70 per unit.

Acorn Plc went down by 1.0 per cent to trade at 14 kobo per unit compared with the previous close of 15 kobo per unit, Friesland Campina WAMCO Nigeria Plc depreciated by 0.3 per cent to N118.00 per share from N118.30 per share, while Niger Delta Exploration and Production (NDEP) Group Plc decreased by 0.02 per cent to N234.95 per share from N235.00 per share.

In the week, the market saw a 99.2 per cent decrease in the total value of transactions with N115.1 million recorded compared with the N14.1 billion achieved in the previous week.

Also, the total volume of shares traded by investors went down by 99.2 per cent to 4.9 million units from 653.8 million units, while the number of deals executed during the period increased by 2.2 per cent to 46 deals from 45 deals in the preceding week.

NASD Plc was the most traded stock by volume last week with 2.4 million units, Dufil Plc traded 1.0 million units, Food Concepts Plc recorded 1.0 million units, Nipco Plc printed 267,000 units, while NDEP Plc transacted 156,857 units.

Also, NASD Plc was the most traded stock by value with N42.3 million, NDEP Plc exchanged N36.9 million, Nipco Plc traded N16.6 million, Dufil Plc executed N9.0 million, while Friesland Campina WAMCO Nigeria Plc traded N5.2 million.

In the year so far, investors have traded 659.9 million units worth N14.2 billion in 156 deals.