By Adedapo Adesanya
Despite the trading week marred by tension following the escalation of the shooting of some peaceful protesters in the Lekki area of Lagos State, the NASD OTC Securities Exchange closed positive in the week 43.
The shooting of the demonstrators allegedly by the military led to the destruction of businesses and government properties in Lagos but in the midst of the confusion, the unlisted securities market gained N3.13 billion.
This boosted the NASD OTC market capitalization to N529.76 billion from N526.63 billion it closed in the preceding week and the positive performance pushed the NASD Unlisted Securities Index (NSI) higher by 0.6 per cent or 4.27 points to close the week at 721.19 points as against 716.92 points it ended in week 42.
The bullish outcome was from the price appreciation of two companies admitted on the exchange led by Central Securities Clearing System (CSCS) Plc, which currently has a market capitalisation of N77.75 billion. The equity price of the firm closed the week at N15.55 per share after rising 4.01 per cent or 60 kobo. A week earkier, it ended at N14.95 per cent.
The second company with a price appreciation in the week was FrieslandCampina WAMCO Nigeria Plc, which has a market capitalisation of N122.32 billion. The share value of the company increased by 0.20 per cent or 25 kobo to settle at N125.29 per share as against the previous week’s closing price of N125.04 per share.
There was only one price loser in the week and this was Afriland Properties Plc, which currently holds a market capitalisation of N2.06 billion. The organisation ended the week at N1.42 per share as against the previous closing value of N1.50 per share, representing a price depreciation of 5.53 per cent or 8 kobo.
On the activity chart, there was a 91.5 per cent decrease in the total value of securities traded by investors during the week as trades worth N15.0 million were transacted in contrast to the previous week’s N176.3 million.
In a similar pattern, the volume of stocks traded during the week fell to 216,793 units from 29.7 million units in the previous week, indicating a 99.3 per cent decrease.
Also, there was a 53.9 per cent drop in the number of deals as only 12 deals were executed compared with the previous week’s 26 deals.
Business Post observed that the activity chart clearly showed one thing, cautious trading and this was because of the situation of things in the country during the week.
On a year-to-date basis, a total of 7.9 billion securities valued at N11.7 billion have been transacted by market participants in 1289 deals.
At the close of the trading week, FrieslandCampina WAMCO Nigeria Plc ranked top among the three most traded securities by volume with 106,550 units followed by CSCS Plc with 100,000 units while Afriland Properties Plc was the third for trading 10,243 units.
By value, FrieslandCampina Wamco Nigeria Plc was equally among the three most traded securities after trading N13.5 million. CSCS Plc trailed with N1.6 million while Afriland Properties Plc was the third for transacting N14,497.
Dipo Olowookere