NASD OTC Exchange Index Drops 1.07% in Week 33

August 22, 2022
NASD Unlisted Securities Index

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange landed in negative territory in the 33rd week of trading in 2022 after as the bourse’s index dropped 1.07 per cent in five days.

The NASD Unlisted Securities Index (NSI) made an 8.14 points slide to wrap the week at 754.04 points compared with 762.18 points recorded in the previous week.

The negative result came as the quadruple of Central Securities Clearing System (CSCS) Plc, Niger Delta Exploration and Production (NDEP) Plc, NASD Plc, and  FrieslandCampina Wamco Nigeria Plc plunged the unlisted securities market into the red zone.

CSCS Plc lost 9.9 per cent to close the week at N13.43 per share in contrast to the previous week’s N14.91 per share, NDEP Plc went down by 9.2 per cent to N190.50 per unit from N209.84 per unit, NASD Plc decreased by 1.1 per cent to trade at N16.00 per unit in contrast to N16.18 per unit, while FrieslandCampina Wamco Nigeria Plc depleted by 0.6 per cent to N90.30 per share from N90.35 per share.

The only price gainer for the week was Nipco Plc as its value rose by 3.6 per cent to settle for the week at N60.00 per share versus the preceding week’s N58.00 per share.

As a result of the losses printed by the four securities, the value of the unlisted securities market depreciated by N10 billion to N990 billion from N1.000 trillion.

However, the value of transactions in the week surged by 2,113.14 per cent to N3.2 billion from N142.7 million, the volume of trades grew by 645.1 per cent to 13.6 million units from 1.8 million units, while the number of trades depreciated by 20.6 per cent to 50 deals from 63 trades.

At the close of the week, VFD Group Plc was the most traded security by volume with 12.7 million units, Afriland Plc traded 352,397 units, NASD Plc exchanged 150,500 units, NDEP Plc transacted 132,514 units, while Nipco Plc traded 90,000 units.

Also, VFD Group Plc was the most traded stock by value with N3.1 billion, NDEP Plc followed with N27.3 million, 11 Plc posted N10.1 million, Nipco Plc recorded N5.4 million, while FrieslandCampina Wamco Nigeria Plc raked in N5.3 million.

In the year so far, investors have traded a total of 3.3 billion units of unlisted shares worth N25.7 billion in 1,890 deals.

Adedapo Adesanya

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

Leave a Reply

NUEE protest at Ikeja Electric
Previous Story

Discos Lose N2.5bn to One-Day Strike by NUEE

Kelechi Amadi
Next Story

Support for Photography: Kelechi Amadi Urges Others to Emulate Ecobank

Latest from Economy

Don't Miss