Three Stocks Boost NASD OTC by 0.94% in One Week
By Adedapo Adesanya
Three securities helped the NASD Over-the-Counter OTC Securities Exchange close in the positive territory in the 46th week of trading this year.
Last week, the unlisted securities market appreciated by 0.94 per cent, raising the NASD Unlisted Security Index (NSI) by 6.73 points to 726.04 points from 719.31 points it closed the preceding week.
The positive performance also increased the market capitalisation of the OTC bourse by N4.95 billion, closing at N533.3 billion compared with N528.38 billion it ended a week earlier.
Business Post reports that the three securities responsible for the growth achieved at the exchange last week were Food Concepts Plc, Niger Delta Exploration and Production (NDEP) Plc and FrieslandCampina WAMCO Nigeria Plc.
On its part, Food Concepts, currently with a market capitalisation of N4.67 billion, ended the week at 80 kobo per share in contrast to 74 kobo per share it was sold a week earlier, indicating a 8.11 per cent increase.
For NDEP, which currently has a market capitalisation of N56.19 billion, it gained 0.80 per cent to close at N310.12 per share as against N309.77 it was traded the prior week.
As for FrieslandCampina, with a total market value of N136.68 billion, it appreciated by 3.43 per cent to settle at N140 per share compared with N135.36 per share it traded the preceding week.
On the activity chart, there was a 44.6 per cent decrease in the total value of transactions to N64.7 million from N116.8 million in the previous week. However, the trading volume rose by 813.4 per cent to 5,236,962.00 units from 573,357.00 units, while the number of deals also increased by 15.8 per cent to 22 deals from 19 deals.
On a year-to-date basis, the unlisted securities market closed on a positive note with an return of 4.1 per cent, while investors have traded 7,878,976,006 units of securities worth N11.8 billion in 1342 deals.
Food Concepts Plc ranked top among the five most traded securities by volume with 5 million units and was followed by NDEP Plc (176,472 units), FrieslandCampina WAMCO Nigeria Plc (32,410 units), Central Securities Clearing Systems (CSCS) Plc at 20,250 units and UBN Properties Plc at 8,370 units.
In terms of top traded securities by value, NDEP Plc led with N55.9 million. FrieslandCampina WAMCO Nigeria Plc followed with N4.5 million, then Food Concepts Plc at N4 million, CSCS Plc at N300,385 and UBN Properties at N9,865.80.