Adedapo Adesanya
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange extended its stay in the negative zone in Week 29 after losing 0.2 per cent in five days of trading.
This shortened the market capitalisation of the Nigerian alternative stock exchange by N10 billion to N1.064 trillion from N1.074 trillion of the preceding week, as the NASD Unlisted Securities Index (NSI) went down by 1.56 points to wrap the week at 769.33 points from the 770.89 points recorded at the previous week.
The loss printed by the bourse was caused by the poor outing of four companies trading their securities on the platform, with Central Securities Clearing System (CSCS) Plc shedding 8.1 per cent to close at N17.00 per unit versus the previous week’s N18.50 per unit.
FrieslandCampina Wamco Nigeria Plc slid 0.9 per cent in the week to settle at N70.81 per unit versus N71.50 per unit, International Packing Industries (IPI) Nigeria Plc lost 40 per cent to close at 3 Kobo per share compared with the earlier week’s 5 Kobo per share, and Nipco Plc depreciated by N5 to end at N65.00 per unit versus N70.00 per unit.
However, 11 Plc gained 10 per cent to quote at N186.34 per share, in contrast to the previous week’s N169.40 per share, Afriland Properties Plc rose by 2.9 per cent to N3.25 per unit from N3.16 per unit, Niger Delta Exploration and Production (NDEP) Plc improved by 2.2 per cent to N344.10 per share from N336.60 per share, and Purple Real Estate Plc grew by 0.2 per cent to N5.21 per unit from N5.20 per unit.
Last week, investors at the OTC exchange transacted 9.2 million units of stocks versus the previous week’s 329.1 million units of stocks, indicating a 97.2 per cent decline.
Also, the value of trades fell by 48.9 per cent to N110.0 million from N215.7 million, though the number of deals increased by 17.76 per cent 126 deals versus the 107 deals executed in Week 28.
FrieslandCampina was the most traded equity by value with N44.6 million units, Purple Real Estate Plc traded N28.84 million, NDEP Plc exchanged N21.6 million, Nipco Plc transacted N9.73 million, and UBN Property Plc traded N3.17 million units.
In terms of the volume of trades in the week, Purple Real Estate Plc topped with 5.54 million units, UBN Property Plc exchanged 2.88 million, FrieslandCampina posted 590,000 units, Nipco Plc recorded 140,000 units, and NDEP Plc traded 60,000 units.
