Three Stocks Increase NASD Market Capitalisation by N2.38bn

By Adedapo Adesanya

Three securities helped the NASD Over-the-Counter (OTC) Securities Exchange close in the positive territory in the 12th trading week of 2021.

Last week, the unlisted securities market appreciated by 0.47 per cent, raising the NASD Unlisted Security Index (NSI) by 3.33 points to 710.73 points from 707.4 points it closed the preceding week.

The positive performance also increased the NASD market capitalisation by N2.38 billion, closing at N505.2 billion compared with N502.82 billion it ended a week earlier.

Business Post reports that the three securities responsible for the growth achieved at the exchange last week were Industrial and General Insurance (IGI) Plc, VFD Group Plc and Niger Delta Exploration and Production (NDEP) Plc.

For IGI Plc, its share price appreciated by 14.3 per cent to settle at 8 kobo compared with 7 kobo it finished a week earlier, while VFD Group Plc gained 10.00 per cent to sell for N115.58 in contrast to the previous N105.07, with NDEP Plc growing by 8.00 per cent to N297.00 from the previous rate of N275.00.

On the activity chart, there was a 9.8 per cent decrease in the total value of transactions to N40.2 million from N44.6 million in the previous week. In the same trend, the trading volume fell by 72.6 per cent to 2,297,035 units from 8,380,441 units, while the number of deals increased by 60 per cent to 25 deals from 10 deals.

On a year-to-date basis, the unlisted securities market closed on a negative note after it dipped by 4.2 per cent. Investors have traded 37,328,147 units of securities worth N752 million in 310 deals in the year.

At the close of last week, Central Securities Clearing Systems (CSCS) Plc was the most traded securities by volume with 2.0 million units. IGI Plc traded 242,000 units, NDEP Plc transacted 31,000 units, Afriland Plc exchanged 5,472 units, while VFD Group Plc sold 5,000 units.

In terms of the most traded securities by value, CSCS Plc led with N30.2 million. NDEP Plc followed with N9.2 million, VFD Group Plc recorded N557,885, FrieslandCampina WAMCO Nigeria printed N252,100, while IGI Plc posted N18,634.