NASD Stocks Record 0.16% Growth in Trading Week 3

By Adedapo Adesanya

Last week, the NASD Over-the-Counter (OTC) Securities Exchange gained 0.16 per cent after the market saw three price advancers and one price decliner in five days of trading.

This expanded the market capitalisation of the bourse by N1.43 billion in the third trading week to N928.96 billion from the N927.53 billion recorded in the second trading week.

In the week, the NASD Securities Index (NSI) increased by 1.1 points to settle at 706.97 points as against the 705.87 points it finished a week earlier.

The gainers were led by Niger Delta Exploration & Production (NDEP) Plc, which rose by 10 per cent to N187.00 per unit from N170.00 per unit, Geo Fluids appreciated by 7.9 per cent to trade at 82 Kobo per share, in contrast to the previous week’s 76 Kobo per share, as Central Securities Clearing Systems (CSCS) Plc improved by 3.17 per cent to quote at N13.00 per share compared with earlier week’s N12.60 per share.

The lone price loser was FrieslandCampina Wamco Nigeria Plc, which depreciated by 2.9 per cent to settle at N65.00 per share, in contrast to the previous week’s N67.00 per share.

During the week, there was a 24.1 per cent decrease in the total value of securities traded by investors to N41.7 million from N54.9 million in the previous week.

Also, the total volume of stocks traded during the week fell by 2.1 per cent as only 24.3 million units were transacted compared with the 24.9 million units exchanged in the preceding week.

There was a 33.7 per cent decrease in the number of deals made by investors at the bourse as 65 deals were executed compared to 98 trades of the previous week.

The week closed with Geo Fluids Plc as the most active stock by volume with a turnover of 20.5 million units, UBN Property Plc traded 3.4 million units, FrieslandCampina WAMCO Plc sold 279,610 units, CSCS Plc exchanged 98,000 units, and NDEP Plc traded 10,150 units.

However, FrieslandCampina WAMCO Plc was the most active stock by value, with N17.9 million, Geo Fluids Plc recorded N16.8 million, UBN Property Plc traded N2.5 million, NDEP Plc raked in N1.9 million, CSCS Plc recorded N1.2 million.