NASD OTC Stocks Witness 0.41% Drop in Four Days

By Adedapo Adesanya

The National Association of Securities Dealers (NASD) Over-the-Counter (OTC) Securities Exchange recorded a 0.41 per cent descent in four days as the market’s benchmark index dropped 3.43 points to wrap the week at 737.97 points compared with 741.40 points recorded at the previous week.

In the trading week, which ended last Thursday because of the public holiday observed on Friday for Good Friday, the bourse’s value fell to N1.02 trillion from N1.03 trillion.

In the week, there was a 95.3 per cent decrease in the total value of trades as NASD Investors traded N67.5 million compared to the N1.43 billion achieved in the previous week, while the volume of transactions declined by 95.9 per cent to 14.7 million units from 362.8 million units in Week 13.

Last week, there were two price gainers and one price loser at the unlisted stock market, with FrieslandCampina Wamco Nigeria Plc growing by 0.12 per cent to end at N80.19 per unit versus the preceding week’s N80.09 per unit, and Niger Delta Exploration and Production (NDEP) Plc expanding by 4.9 per cent to end at N215.00 per share, in contrast to the previous week’s value of N205 per share.

However, the share price of Central Securities Clearing System (CSCS) went down on a week-on-week basis by 8.4 per cent to end the week at N13.61 per unit compared with N14.86 per unit.

At the close of the week, Geo-Fluids Plc was the most traded equity by volume with 10.08 million units, UBN Properties Plc followed with 4.00 million, and FrieslandCampina Wamco Nigeria Plc transacted 390,000 units.

In terms of the value of trades in the week, FrieslandCampina Wamco Nigeria Plc topped with N31 million, Geo-Fluids Plc traded N22 million, VFD Group Plc exchanged with N5 million, NDEP Plc raked in N4 million, and UBN Properties traded N3 million.

The NASD OTC Market year-to-date has witnessed the sale of 1.078 billion units of securities valued at N4.105 billion in 893 deals.