NASD OTC Exchange Appreciates by N18.9bn in Five Days

By Adedapo Adesanya

The National Association of Securities Dealers (NASD) Over-the-Counter (OTC) Securities Exchange recorded one of its best trading weeks in the 14th week of 2022.

This was because the alternative bourse appreciated by 1.9 per cent in the week, influenced by the rise in the share prices of FrieslandCampina WAMCO Nigeria Plc and NASD Plc.

This increased the market capitalisation of the unlisted securities market by N18.9 billion to N971.52 billion from the preceding week’s N952.62 billion, while the NASD Unlisted Securities Index (NSI) rose by 14.38 points to 738.87 points from 724.49 points.

Business Post reports that upon its proposal to pay shareholders a N4.73 dividend, FrieslandCampina WAMCO Nigeria Plc gained N20.9 per cent to settle at N150.85 per unit compared with the previous week’s N125.00 per unit.

On its part, NASD Plc improved its value by 20.8 per cent to trade at N14.50 per unit versus the earlier week’s N12.00 per unit.

The exchange recorded a price loser and it was Central Securities Clearing System (CSCS)  Plc, which dropped 8.6 per cent to trade at N15.84 per share as against the previous week’s N17.33 per share.

Last week, there was a 362.2 per cent increase in the total value of transactions to N222.9 million from N48.2 million, while the volume of trades decreased by 43.2 per cent to 4.2 million units from 7.4 million units, with the number of deals increasing by 232.1 per cent to 93 trades from 28 trades of the previous week.

At the close of the week, CSCS Plc was the most traded security by volume with 1.6 million units, NASD Plc traded 1.1 million units, FrieslandCampina WAMCO Nigeria Plc exchanged 1.05 million units, Niger Delta Exploration and Production (NDEP) Plc traded 231,700 units, while Industrial and General Insurance (IGI) Plc sold 216,000 units.

In terms of the value of trades in the week, FrieslandCampina WAMCO Nigeria Plc topped with N142.4 million, NDEP Plc recorded N40.4 million, CSCS Plc traded N25.2 million, NASD Plc posted N14.8 million, while 11 Plc had N187,200.

On a year-to-date basis, investors have transacted 3.0 billion units worth N16.5 billion in 642 deals at the NASD OTC exchange, with the NSI posting a year-to-date loss of 0.54 per cent.