NASD OTC Investors Portfolios Shorten by 0.11% in Week 16

By Adedapo Adesanya

The National Association of Securities Dealers (NASD) Over-the-Counter (OTC) Securities Exchange saw investors lose N2 billion or 0.11 per cent in the 16th week of trading this year, as the market capitalisation closed at N1.021 trillion compared with the preceding week’s N1.023 trillion.

On its part, the NASD Unlisted Securities Index (NSI) also slid by 0.11 per cent or 0.81 points to wrap the week at 738.77 points compared with 739.58 points recorded in the previous week.

In the week, there was a 6.3 per cent increase in the total value of trades to N84.0 million from N89.8 million in the previous week, while the volume of trades slumped during the week by 95.3 per cent week-on-week to 24.5 million units from 521.8 million units in the previous week.

There were three price gainers at the unlisted stock market in the week under review and one price loser.

On the gainers’ angle, Niger Delta Exploration and Production (NDEP) Plc made a 0.3 per cent rise to end at N80.09 per unit versus the previous week’s N76.00 per unit, Geo-Fluids jumped by 9.8 per cent to end the week at N2.35 per share compared with N2.14 per share, and Afriland Plc closed the week at N2.26 per unit versus the earlier week’s N2.16 per unit, indicating an increased of 4.6 per cent.

On the flip side, Central Securities Clearing System (CSCS) recorded a 3.1 per cent slide to end the week at N14.25 per share versus N14.70 per share.

At the close of the week, Industrial and Insurance General (IGI) Plc was the most traded stock by volume with 11.00 million units, Geo-Fluids Plc traded 9.47 million units, Afriland Plc sold 2.86 million units, FrieslandCampina Wamco Nigeria Plc transacted 0.41 million units, and NASD Plc traded 0.40 million units.

In terms of the value of trades in the week, FrieslandCampina Wamco Nigeria Plc topped with N32 million, Geo-Fluids Plc followed with N22 million, NDEP Plc posted N11 million, Afriland Plc traded N6 million, and NASD Plc posted N6 million.

The NASD OTC market has traded 1.62 billion units of securities valued at N4.28 billion in about 993 deals on a year-to-date basis.