NASD Posts 0.22% Weekly Loss Despite Recording Eight Price Gainers

August 28, 2023
NASD Electronic Trading System N-ETS

By Adedapo Adesanya

Last week, the NASD Over-the-Counter (OTC) Securities Exchange depreciated by 0.22 per cent despite reporting eight price gainers at the close of the five-day trading week.

It was the 34th trading week of the year, but the the market’s capitalisation dropped N10 billion to close at N1.101 trillion versus the preceding week’s N1.111 trillion, as the NASD Unlisted Securities Index (NSI) depreciated by 1.76 points to 785.37 points from the previous week’s 787.13 points.

In the week under review, Food Concepts Plc expanded by 19.8 per cent to close at N1.15 Kobo per share compared with the previous week’s 96 Kobo per share, Aradel Holdings Plc improved by 2.9 per cent to N445.60 per unit from N432.88 per unit, Industrial and General Insurance (IGI) Plc appreciated by 18.2 per cent to end at 13 Kobo per unit from 11 Kobo per unit, and FrieslandCampina Wamco Nigeria Plc jumped by 0.6 per cent to close at N73.96 per share versus the previous week’s N73.51 per share.

Further, Acorn Petroleum Plc rose by 3.9 per cent to 27 Kobo per share from 26 Kobo per share, Geo-Fluids Plc made a 3.6 per cent rise to N2.90 per share from N2.80 per share, and Afriland Properties Plc increased its value by 0.3 per cent to N18.00 per unit from N17.00 per unit.

The volume of shares traded during the week declined by 51.3 per cent to 19.38 million units from 39.76 million units, the value of stocks transacted by investors fell by 22.3 per cent to N449.1 million from N642.2 million, while the number of deals appreciated by 13.98 per cent to 106 deals versus the 93 deals executed in Week 33.

At the close of the week, CSCS Plc was the most traded stock by value with N267.05 million, Aradel Plc traded N211.30 million, FrieslandCampina Wamco Nigeria  Plc exchanged N18.35 million, VFD Group Plc transacted N0.98 million while IGI Plc traded N0.46 million.

Also, CSCS Plc was the most traded stock by volume with 14.59 million units, IGI Plc followed with 3.72 million units, Aradel Plc posted 0.49 million units, FrieslandCampina Wamco Nigeria Plc recorded 0.25 million units while UBN Property Plc exchanged 0.12 million units.

Adedapo Adesanya

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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