By Adedapo Adesanya
The 36th week of trading in 2022 saw the National Association of Securities Dealers (NASD) Over-the-Counter (OTC) Securities Exchange close lower by 0.75 per cent, causing investors to lose N10 billion in the five days of trading in the week.
As a result, the market capitalisation depleted to N990 billion from N1.00 trillion as the NASD Unlisted Securities Index (NSI) lost 5.69 points to settle at 756.43 points compared with the preceding week’s 762.12 points.
Business Post reports that two companies contributed to the downfall of the exchange in the week, with Niger Delta Exploration and Production (NDEP) Plc declining by 4.3 per cent to close at N209.00 per share versus the previous week’s N200.00 per share and FrieslandCampina Wamco Nigeria Plc going down by 3.2 per cent to finish at N90.00 per unit in contrast to the N93.00 per unit it closed a week earlier.
Last week, there was a 76.1 per cent decrease in the total value of transactions to N34.5 million from N144.3 million, the volume of trades went down by 97.9 per cent to 200,614 units from 9.6 million units, while the number of deals increased by 18.4 per cent to 45 trades from 38 trades of the previous week.
At the close of the week, NDEP Plc was the most traded security by volume with the sale of 141,628 units, followed by Food Concepts Plc with 34,240 units, Nipco Plc exchanged 13,651 units, VFD Group Plc traded 7,500 units, while 11 Plc sold 3,452 units.
In terms of the value of trades in the week, NDEP Plc also topped the chart with a turnover of N28.2 million, FrieslandCampina WAMCO Nigeria Plc recorded N3.1 million, VFD Group Plc traded N1.8 million, Nipco Plc posted N791,758, while 11 Plc had N586,840.
On a year-to-date basis, investors have transacted a total of 3.3 billion units of securities worth N26.0 billion in 2,021 deals at the NASD OTC exchange, with the NSI posting a year-to-date gain of 1.83 per cent.
