NASD OTC Exchange Drops 0.75% in Week 28

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange, after four straight weeks of upward movement, landed in the negative territory in Week 28 of 2023, after it lost 0.75 per cent on a week-on-week basis.

This depleted the market capitalisation of the NASD OTC exchange by N4 billion in the week to N1.070 trillion from the N1.074 trillion it closed in the preceding week (Week 27).

In the same vein, the NASD Unlisted Securities Index (NSI) went down at the close of the trading week by 5.81 points to settle at 770.89 points compared with the 776.70 points recorded in the previous week.

In the five days of trading, a total of 107 deals were executed, 5.3 per cent lower than the 113 deals carried out in the preceding trading week.

The total volume of transactions in the week, however, jumped by 3,958.8 per cent to 329.1 million units from 8.1 million units, as the value of trades increased by 167.3 per cent to N215.7 million from N80.7 million.

Last week, FrieslandCampina Wamco Nigeria Plc lost 10.30 per cent to settle at N71.50 per unit, in contrast to the previous week’s N79.71 per unit, Resourcery Plc shed 10 per cent to close at 41 Kobo per share versus 45 Kobo per share, and Mixta Real Estate Plc depreciated by 1.7 per cent to finish at N1.65 per share compared with the previous week’s N1.76 per share.

However, Niger Delta Exploration and Production (NDEP) Plc gained 10 per cent to trade at N336.00 per unit versus the previous week’s N306.00 per unit, Afriland Properties Plc improved by 10 per cent to N3.16 per unit from N2.87 per unit, Industrial and General Insurance (IGI) Plc went up by 10 per cent to 8 Kobo per share from 7 Kobo per share, Acorn Petroleum Plc grew by 6.3 per cent to 17 Kobo per unit from 16 Kobo per unit, Central Securities Clearing System (CSCS) Plc expanded by 3.6 per cent to N18.50 per unit versus the previous week’s N17.86 per unit, and UBN Property Plc leapt by 0.9 per cent to N1.10 per share from N1.09 per share.

Last week, AG Mortgage Plc was the most traded stock by volume with 324 million units, Acorn Petroleum Plc traded 2.99 million units, IGI Plc exchanged 1.00 million units, FrieslandCampina Wamco Plc transacted 350,000 units, and CSCS Plc traded 260,000 units.

By value, AG Mortgage Plc also topped with N168.48 million, FrieslandCampina Wamco Plc followed with N26.74 million, NDEP Plc posted N7.6 million, Nipco Plc recorded N6.24 million, and CSCS Plc traded N4.76 million.