Adedapo Adesanya
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange rose by 0.48 per cent in Week 40 as the NASD Unlisted Securities Index (NSI) increased by 3.91 points to 819.56 points from 815.65 points in the previous week.
The improvement was buoyed by bargain-hunting activities in the four-day trading week, lifting the NASD market’s capitalisation by N1 billion to N1.111 trillion from the N1.110 trillion it ended in Week 39.
This expansion was because four securities closed higher, with Central Securities Clearing System (CSCS) Plc appreciating by 9.0 per cent to N19.18 per unit versus N17.50 per unit. Acorn Petroleum Plc gained 5.3 per cent to finish at 40 Kobo per share versus 38 Kobo per share, UBN Property Plc rose by 4.0 per cent to N1.30 per unit versus N1.25 per unit and FrieslandCampina Wamco Plc grew by 2.1 per cent to close at N76.50 per share versus the previous week’s N74.90 per share.
On the flip side, Food Concepts Plc lost 10 per cent to end at N1.44 per unit compared with the preceding week’s N1.60 per unit, Nipco Plc depreciated by 9.8 per cent to close at N86.50 per share compared with the previous week’s N95.00 per share, NASD Plc dropped 5.2 per cent to end at N10.90 per unit versus N11.50 per unit, and Geo-Fluids Plc declined by 3.5 per cent to settle at N2.80 per share versus N2.90 per share.
In the 40th week of trading in 2023, the total volume of stocks traded jumped by 386.2 per cent to 12.67 million units from 2.61 million, the value of shares grew by 86.5 per cent to N55.6 million from N35.5 million, and the number of deals increased by 18.87 per cent to 63 deals from 53 deals.
FrieslandCampina Wamco Plc was the most traded stock by value with N14.35 million, Food Concepts Plc traded N8.78 million, CSCS Plc exchanged N8.7 million, Aradel Holdings Plc also transacted N8.7 million, and UBN Property Plc traded N6.40 million.
In terms of the volume of trades in the week, Food Concepts Plc topped with 6.09 million units, UBN Property Plc followed with 4.93 million units, Geo-Fluids Plc posted 0.65 million units, CSCS Plc recorded 0.46 million units, and FrieslandCampina Wamco Plc transacted 0.19 million units.
