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NGX Group Stocks Gain 57.5% in One Week on NASD

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By Adedapo Adesanya

The share price of Nigerian Exchange (NGX) Group Plc appreciated by 57.5 per cent on the floor of the NASD Over-the-Counter (OTC) Securities Exchange last week.

The equities of the parent firm of the nation’s main exchange closed for the week at N30.26 per unit in contrast to N19.99 per unit of the preceding week.

The growth printed by the company came after it suffered a significant decline in the unlisted securities market as investors started to book a profit on it when its value rose above the listing price of N25.

The NGX was not the only price gainer last week as FrieslandCampina WAMCO Nigeria Plc appreciated by 2.1 per cent to close at N142.62 per share compared with the previous N139.70 per share.

Also, Central Securities Clearing System (CSCS) Plc increased its value by 0.6 per cent to settle at N16.75 per unit as against N16.65 per unit it ended a week earlier.

These three securities helped the NASD OTC Exchange to close higher last week by 0.6 per cent as the NASD Security Index (NSI) increased by 4.74 points to 789.89 points from 785.15 points, while the market capitalisation went up by N3.37 billion to N561.46 billion from N558.09 billion.

During the five-day trading week, the volume of shares transacted by investors decreased by 32.3 per cent to 55.1 million units from 81.3 million units, while the value of securities traded reduced by 5.9 per cent to N1.5 billion from N1.6 billion, with the number of deals down by 7.43 per cent to 249 deals from 269 deals.

NGX ended the week as the most traded securities by volume with 54.9 million units and was followed by CSCS Plc with 93,000 units, Friesland with 40,575 units, Afriland Properties Plc with 36,865 units and Niger Delta Exploration and Production (NDEP) Plc with 1,205 units.

Also, NGX was the most active stock by value last week with N1.5 billion, Friesland trailed with N5.9 million, CSCS with N1.5 million, NDEP with N408,675 and Afriland with N49,256.

On a year-to-date basis, the unlisted securities market has witnessed the sale of 190,940,767 securities worth N4.8 billion in 1,049 deals and the index has increased by 6.5 per cent.

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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