Sun. Nov 24th, 2024

NASD OTC Exchange Jumps 0.1% in 48th Trading Week of 2021

NASD OTC market

By Adedapo Adesanya

The 48th trading week of 2021 at the NASD Over-the-Counter (OTC) Securities Exchange closed on a positive note with a marginal 0.1 per cent growth influenced by three companies.

The three securities responsible for the expansion posted by the alternative bourse were UBN Property Plc, NASD Plc and Friesland Campina Wamco Nigeria Plc.

UBN Property Plc appreciated week-on-week by 10.00 per cent to close at 99 kobo per share compared with 90 kobo per share it closed in week 47.

NASD Plc, on its part, appreciated by 7.0 per cent to N26.99 per unit in contrast to the preceding week’s N25.22 per unit, while Friesland Plc grew by 1.3 per cent to N121.00 per share versus N119.42 per share of the preceding week.

Business Post reports that the market recorded price losers in the week and they were just two led by Food Concepts Plc, which depreciated by 10.00 per cent to 81 kobo per unit from 90 kobo per unit of the earlier week.

The second price decliner was Mixta Real Estate Plc, which fell by 9.7 per cent to settle at N1.76 per share as against the previous week’s N1.95 per share.

But at the close of transactions for the five-day trading week, the NASD Unlisted Security Index (NSI) increased by 0.54 points to 745.44 points from 744.9 points recorded at the previous week, while the total value of stocks on the exchange expanded by N440 million to N615.86 billion from N615.42 billion.

In the week, the total value of shares transacted by investors increased by 141.2 per cent to N84.1 million from the preceding week’s N34.8 million, while the total volume of trades jumped by 896.6 per cent to 23.4 million units from 2.3 million units, with the number of deals closing flat at 30 deals.

At the close of the week, Food Concepts Plc was the most traded security by volume with 20.1 million units, NASD Plc traded 2.4 million units, UBN Property Plc exchanged 700,000 units, Mixta Real Estate Plc transacted 200,000 units, while FrieslandCampina WAMCO Nigeria Plc traded 23,079 units.

By value, NASD Plc was the most active with N63.9 million, Food Concepts Plc followed with N16.2 million, FrieslandCampina WAMCO Nigeria Plc posted N2.8 million, UBN Property Plc recorded N648,000, while Mixta Real Estate traded N352,000.

In the year so far, investors have traded a total of 12.8 billion units of securities worth N30.1 billion in 4854 deals.

By 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.

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