NASD OTC Exchange Rises 0.04% in Week 29
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange closed the 29th trading week of the year on a positive note with a slight growth of 0.04 per cent.
Last week, the market only operated for three days due to the public holidays for Tuesday and Wednesday for Sallah by Muslims.
In the week, the NASD Security Index (NSI) of the NASD OTC Exchange increased by 0.32 points to close at 754.43 points as against 754.11 points of the previous week.
In addition, the market capitalisation of the bourse increased by N280 million to settle at N655.73 billion compared to N655.45 billion of the preceding week.
Business Post reports that the outcome of the market was buoyed by the upward movement in the price of Central Securities and Clearing System (CSCS) Plc.
The securities depository company grew by 1.7 per cent or 30 kobo to sell at N18.50 per unit compared with the previous week’s N18.20 per unit.
In the week, two securities closed bearish, with the Nigerian Exchange (NGX) Group Plc losing 2 per cent or 35 kobo to trade at N17.13 per share versus the previous week’s N17.48 per share, while FrieslandCampina WAMCO Plc went down by 0.5 per cent or N3.40 to N120.08 per unit in contrast to N120.63 per unit it ended the prior week.
On the activity chart, there was an 88.1 per cent decrease in the total value of shares traded by investors during the week, as NASD investors traded N180.7 million securities compared to N1.5 billion securities of the earlier week.
In the same vein, the total volume of stocks transacted by the market participants went down by 69.3 per cent to 8.8 million units from 28.7 million units, while the number of deals also decreased by 54 per cent to 79 deals from 175 deals.
The most traded stock was NGX Exchange with 8.3 million units, CSCS Plc traded 270,150 units, Friesland exchanged 254,486 units, Niger Delta Exploration and Production (NDEP) Plc recorded 9,570 units, while Mixta Real Estate Plc transacted 800 units.
By value, NGX was the most active with N142.5 million, Friesland with N30.7 million, CSCS Plc with N4.8 million, NDEP Plc with N2.8 million and Mixta Real Estate Plc with N1,584.
In the year so far, the market has gained 1.7 per cent, while investors have transacted 1.5 billion units worth N12.1 billion in 3156 deals.