Selling Pressure Weakens NASD Index by 3.2% in Week 28

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange fell by 3.2 per cent in the 28th week of trading in 2024 last week, leaving the market capitalisation down by N67 billion to N2.045 trillion from the preceding week’s N2.112 trillion.

Also, the NASD Unlisted Security Index (NSI) wrapped the trading week at 1,492.39 points from the 1,541.03 points it closed a week earlier, indicating a decline of 48.64 points.

The week had five price losers and two price gainers.

Nipco Plc led the losers’ group with a 16.3 per cent loss to close at N66.28 per share compared with the previous closing value of N79.20 per share, FrieslandCampina Wamco Nigeria Plc declined by 7.4 per cent to end at N46.95 per unit against the previous week’s N50.72 per unit, Afriland Properties Plc recorded a 6.4 per cent loss to finish at N16.84 per share versus N18.00 per share, Aradel Holdings Plc slid by 4.9 per cent to N4,745.61 per unit from the previous closing value of N4,990.00 per unit, and Central Securities Clearing System (CSCS) Plc moderated by 2.4 per cent to N20.00 per share from N20.25 per share.

On the gainers’ angle, First Trust Microfinance Bank rose by 8.1 per cent to close at 40 Kobo per unit from the previous closing value of 37 Kobo per unit, and Geo-Fluids Plc made a 2.00 per cent appreciation to end at N2.04 per share versus N2.00 per share.

The total volume of trade during the week surged by 14,329 per cent to 231.3 million units from 1.6 million units in the previous week, and the total value of transactions went up by 355.6 per cent to N5.5 billion from N1.2 billion, while the number of deals decreased by 11.7 per cent to 136 deals from 154 deals.

Afriland Properties Plc was the most traded security by volume with 225.8 million units, Geo Fluids Plc traded 5.0 million units, Aradel Holdings Plc exchanged 0.29 million units, CSCS Plc transacted 0.14 million units, and Nipco Plc traded 0.05 million units.

Afriland Properties Plc was also the most active stock by value with N4.1 billion, Aradel Holdings Plc followed with N1.4 billion, Geo-Fluids Plc posted N100 million, Nipco Plc recorded N40 million, and CSCS Plc reported N30 million.