NASD OTC Exchange Records First Weekly Decline in Week 9

March 4, 2024
NASD OTC exchange

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange, for the first time in the 2024 trading year, declined in Week 9 by 3.92 per cent, shrinking the value of investors’ portfolio by N27 billion, as the market capitalisation went down to N1,548 trillion from N1.611 trillion in Week 8.

Equally, the NASD Unlisted Security Index (NSI) depreciated by 47.17 points to wrap the week at 1,141.61 points compared with the 1,188.78 points recorded in the previous week.

In the week, there was a 65.1 per cent decrease in the total value of securities traded by investors to N620 million from N1.77 billion, the volume of transactions depreciated by 83.5 per cent to 2.54 million units from 15.4 million units, and the number of deals deflated by 19.9 per cent to 121 deals from 151 deals.

The trio of Aradel Holdings Plc, FrieslandCampina Wamco Nigeria Plc, and Central Securities Clearing Systems (CSCS) Plc depreciated in value in the five-day trading week, while UBN Property Plc gained.

Aradel Holdings Plc lost 11.3 per cent to trade at N2,395.00 per share versus the preceding week’s N2,700.00 per share, FrieslandCampina Wamco Nigeria Plc moderated by 1.6 per cent to N70.27 per unit from the previous week’s N71.40 per unit, and CSCS Plc declined by 0.9 per cent to N19.46 per share from N19.63 per share, while UBN Property Plc gained 9.8 per cent to close at N1.90 per unit compared with the previous week’s N1.73.

At the close of business for the week, FrieslandCampina Wamco Nigeria Plc was the most traded security by volume with 0.87 million units, followed by CSCS Plc with 0.53 million units, Geo-Fuids Plc exchanged 0.47 million units, Aradel Holdings Plc transacted 0.23 million units, and UBN Properties Plc traded 0.22 million units.

In terms of the value of trades in the week, Aradel Holdings Plc topped with N541.1 million, trailed by FrieslandCampina Wamco Nigeria Plc with N61.9 million, CSCS Plc posted N10.3 million, 11 Plc recorded N1.40 million, and Geo-Fluids Plc reported N1.2 million.

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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