NASD OTC Extends Weekly Growth by 0.33% in Week 10

By Adedapo Adesanya

The 10th week of trading in 2023 at the NASD Over-the-Counter (OTC) Securities Exchange ended on a positive note for the third straight week due to the 0.33 per cent growth recorded last week.

This increased the value of investors’ portfolios in the unlisted securities market by N3.19 billion at the close of transactions to N955.83 trillion from the N952.64 billion reported in Week 9.

In the same vein, the NASD Unlisted Securities Index (NSI) appreciated by 2.43 points to wrap the week at 727.42 points compared with 724.99 points recorded in the previous week.

In the week, there was a 148.3 per cent increase in the total value of transactions to N143.9 million from N57.9 million, as the volume of trades grew by 183.8 per cent to 108.3 million units from 38.1 million units, with the number of deals increasing by 31.6 per cent to 50 deals from the 38 deals achieved in the preceding week.

The share prices of Central Securities Clearing Systems (CSCS), Geo-Fluids Plc, and Nipco Plc appreciated during the five-day trading week, while the share prices of Afriland Property Plc, FrieslandCampina Wamco Nigeria Plc, and First Trust Microfinance Bank Plc dropped.

Nipco Plc gained N10 to end at N70.00 per unit versus the preceding week’s N60.00 per unit, CSCS Plc rose by 43 Kobo to N13.93 per share from N13.50 per share, and Geo-Fluids Plc expanded by 12 Kobo to N1.32 per unit from N1.20 per unit.

On the flip side, FrieslandCampina Wamco Nigeria Plc lost 50 Kobo to settle at N74.00 per share versus N74.50 per share, Afriland Property Plc shrank by 10 Kobo to close at N1.90 per unit versus N2.00 per unit, and First Trust Microfinance Bank declined by 5 Kobo to 52 Kobo from 57 Kobo.

At the close of the week, Geo-Fluids Plc was the most traded stock by volume with 70.1 million units, UBN Property Plc traded 35.5 million units, Industrial & General Insurance (IGI) Plc exchanged 1.6 million units, CSCS Plc transacted 600,000 units, and Afriland Properties Plc traded 220,000 units.

By value, Geo Fluids Plc topped with N91 million, UBN Property Plc followed with N31 million, CSCS Plc posted N8 million, Niger Delta Exploration & Production (NDEP) Plc recorded N6 million, while FrieslandCampina Wamco Nigeria Plc reported N4 million.

In the year so far, investors have traded a total of 570.03 million units valued at N2.29 billion in 643 deals.