Three Stocks Grow NASD Market Cap to N13.62bn in 4 Days

By Adedapo Adesanya

The market capitalisation of the NASD Over-the-Counter (OTC) Securities Exchange increased by N13.62 billion or 2.6 per cent in the four-day trading session last week.

Data from the exchange showed that the total value of securities on the alternative bourse jumped to N529.61 billion from N515.99 billion of the preceding week.

The major contributors to this were three equities led by VFD Group Plc, which gained 33.1 per cent to close at N224.66 per unit in contrast to the prior week’s N168.79 per unit.

Another stock was the Central Securities Clearing System (CSCS) Plc, which appreciated by 8.8 per cent to settle at N16.00 per share versus the previous N14.71 per share.

The third stock was Niger Delta Exploration & Production (NDEP) Plc, which improved by 5.65 per cent to close at N315.00 per unit compared with the previous N298.15 per share.

At the close of transactions for the week, the NASD OTC Security Index (NSI) also improved to 745.08 points.

However, the market was not without a price decliner as Friesland Campina WAMCO Nigeria Plc lost 0.5 per cent in the week to close at N130.27 per unit in contrast to the previous N130.90 per unit.

In the week, the trading value went down by 53.6 per cent to N213.4 million from N459.9 million of the previous week, while the trading volume fell by 55.8 per cent to 1,226,023 units from 2,775,595 units, with the number of deals declining by 8.3 per cent to 33 deals from 35 deals.

On a year-to-date basis, the unlisted securities market increased by 0.5 per cent, while investors have traded 41,329,765 units of securities worth N1.4 billion in 379 deals.

Last week, FrieslandCampina WAMCO Nigeria Plc was the most traded stock by volume with 527,396 units and was followed by NDEP Plc (379,622 units), CSCS Plc (233,000 units), VFD Group Plc (86,000 units) and Afriland Plc (5 units).

By value, NDEP was the most traded security with N123.7 million. Friesland trailed with N68.6 million, VFD Group Plc recorded N17.5 million, CSCSS Plc recorded N3.6 million, while Afriland Plc recorded N6.30.