NASD OTC Exchange Posts 0.1% Weekly Decline

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange recorded a 0.1 per cent weekly decline on the back of negative price movements in two of the admitted securities in week 47.

The two companies which were responsible for the fall were FrieslandCampina WAMCO Nigeria Plc and Central Securities Clearing Systems (CSCS) Plc.

Friesland closed the week at N119.42 after its share price lost 0.9 per cent from the previous week’s value of N120.52, while CSCS Plc depreciated by 0.6 per cent to settle at N17.50 compared with the preceding week’s N17.60.

In the week, NASD Plc was the only price riser as its value appreciated by 9.3 per cent to finish at N25.22 as against N23.07 it ended a week earlier.

At the close of transactions, the main performance indicators of the NASD OTC exchange, the NASD Unlisted Security Index (NSI), fell by 0.75 points to 744.9 points from 745.65 points, while the market capitalisation dropped N620 million to close at N615.42 billion in contrast to the previous N616.04 billion.

Last week, there was a 105.6 per cent increase in the total value of stocks transacted on the platform. Investors traded N34.8 million securities compared with the N16.9 million securities exchanged in the previous week.

Similarly, the total volume of shares traded during the week went up by 199.6 per cent to 2.3 million units from 782,454 units in the previous week, while the number of deals went down by 16.7 per cent to 30 trades from 36 deals in week 46.

Analysis showed that CSCS Plc was the most traded stock by volume with 1.6 million units. UBN Property Plc traded 500,000 units, NASD Plc exchanged 259,600 units, Friesland Plc transacted 3,100 units, while Nipco Plc traded 1,000 units.

In terms of the value of trades in the week, CSCS Plc also topped with N27.3 million, NASD Plc traded N6.5 million, UBN Property Plc posted N450,000, Friesland Plc recorded N373,100, while Nipco Plc had N80,000.

In the year so far, investors have traded a total of 12.8 billion units valued at N29.9 billion in 4827 deals.