By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange closed the second trading week of the year in the negative territory, depreciating by 0.91 per cent.
At the close of transactions, the NASD Unlisted Security Index NSI declined by 1.41 points to settle at 740.04 points as against 741.45 points it finished a week earlier.
In the same vein, the market capitalisation of the NASD OTC reduced by N1.01 billion to finish at N530.99 billion compared with N532.00 billion it ended at the preceding week.
Business Post reports that the bearish outcome seen in the week was caused by the price declined suffered by Niger Delta Exploration and Production (NDEP) Plc.
The oil investment firm, which has a market capitalisation of N60.77 billion, depreciated by 1.52 per cent to settle at N335 per share in contrast to the previous value of N350 per share.
Conversely, the FrieslandCampina WAMCO Nigeria Plc was the sole price gainer in the week, rising by 1.37 per cent to close at N131.75 per share versus the previous week’s N130 per share.
On the activity chart, there was a 441.5 per cent increase in the total value of shares traded by investors as transactions worth N82.3 million were carried out as against N15.2 million in the previous week.
Equally, the number of stocks traded during the week increased by 90.1 per cent to 5.1 million units from 111,434 units recorded the preceding week.
Similarly, the number of deals executed by the market participants increased by 92.3 per cent as 25 deals were carried out compared with the 13 deals executed at the preceding week.
The week closed with UBN Property ranked top among the five most traded securities by volume with 4.8 million units. NDEP traded 179,000 units, FrieslandCampina WAMCO Nigeria exchanged 67,846 units, VFD Group traded 46,594 units, while Central Securities Clearing Systems (CSCS) Plc transacted 2,850 units.
In terms of the most traded stock by value in the week, NDEP claimed the top spot with N62.5 million. FrieslandCampina traded N8.9 million shares, UBN Property exchanged N5.9 million stocks, VFD Group traded N4.9 million securities, while CSCS transacted N45,600 equities.
In the year-to-date overview, the unlisted securities market closed on a negative note, falling by 0.22 per cent. A total of 5.24 million units of shares worth N97.6 million have been traded in 38 deals.
Modupe Gbadeyanka