NASD OTC Bourse Extends Bullish Run by 0.16% in Week 26

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange continued its presence in the positive territory with a 0.16 per cent growth in the 26th week of trading of 2023 in a week of short trading due to a two-day break.

The valuation of investors’ portfolio rose by N1.67 billion, leaving the market capitalisation of the NASD OTC bourse at N1.040 trillion from the N1.038 trillion it closed in the preceding week, while the NASD Unlisted Securities Index (NSI) gained 1.75 points to wrap the week at 752.03 points compared with 750.28 points recorded at the previous week.

There were two price gainers and four price losers in the three days of trading last week.

Niger Delta Exploration and Production (NDEP) Plc appreciated by 10.2 per cent in the week to trade at N275.50 per unit versus the preceding week’s N250.12 per unit, as UBN Property Plc improved its value by 5.3 per cent to N1.00 per share from the 95 Kobo per share it finished a week earlier.

On the flip side, FrieslandCampina Wamco Nigeria Plc dropped 1.4 per cent to quote at N69.98 per share versus N70.96 per share, NASD Plc lost 10 per cent to settle at N13.95 per unit compared with the previous week’s N15.50 per unit, Central Securities Clearing System (CSCS) Plc depleted by 0.6 per cent to close at N18.00 per unit, in contrast to the previous week’s price of N18.10 per unit, and Purple Real Estate Plc shed 0.2 per cent to trade at N5.20 per share versus the previous closing price of N5.21 per share.

In the week, there was a 1,301.1 per cent increase in the total value of transactions to N21.73 billion from the N1.55 billion recorded in the previous week, the total volume trades improved by 4,218.8 per cent to 1.1 billion units from 25.2 million units, and the number of trades went down by 21.9 per cent to 75 deals from 96 deals.

At the close of the week, CSCS Plc was the most traded stock by volume with 1.08 billion units, VFD Group Plc traded 2.22 million units, Purple Real Estate Plc exchanged 2.05 million units, UBN Property Plc transacted 530,000 units, and NDEP Plc also traded 530,000 units.

In terms of value, CSCS Plc also topped with N2.1 billion, VFD Group Plc followed with N489.8 million, NDEP Plc posted N133.7 million, Purple Real Estate Plc recorded N10.7 million, and UBN Property Plc raked in N530,000.

In the year so far, investors have traded a total of 2.85 billion units valued at N29.1 billion in 1,733 deals.