Unlisted Stock Exchange Soars 2.69% in Week 32
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange appreciated in Week 32 by 2.69 per cent, following sustained bargain-hunting by investors, who are not moved by happenings in the macroeconomic environment.
The buying pressure moved the market capitalisation of the unlisted stock exchange to a new high of N1.090 trillion, as the NASD Unlisted Securities Index (NSI) closed at 788.07 points.
Four stocks were responsible for the growth recorded in the five-day trading week, offsetting the loss printed by FrieslandCampina Wamco Nigeria Plc, which lost by 3.3 per cent to close at N74.00 per unit versus Week 31 value of N76.50 per unit.
Niger Delta Exploration and Production (NDEP) Plc gained 11.3 per cent in the week to finish at N389.57 per unit compared with the preceding week’s N350.00 per unit, 11 Plc added 9.5 per cent to end at N204.00 per share versus N186.36 per share, Acorn Petroleum Plc rose by 8.3 per cent to close at 26 Kobo per unit compared with the previous week’s 24 Kobo, and Afriland Properties Plc saw a 0.9 per cent boost to close at N3.35 per share, in contrast to the preceding week’s N3.23 per share.
Last week, the total volume of trades went down by 94.5 per cent as investors traded 1.0 million units compared to 18.2 million units in the previous week, the total value traded slumped by 91.5 per cent to N153.5 million from N1.8 billion, and the number of deals executed decreased by 1.25 per cent to 79 deals from the 80 deals carried out in Week 31.
NDEP Plc was the most traded equity last week by value with N145.6 million units, FrieslandCampina Wamco Nigeria Plc traded N4.7 million, 11 Plc exchanged N2.4 million, Mixta Real Estate Plc transacted N310,000.00, and Nipco Plc traded N250,000.00.
In terms of the volume of trades in the week, NDEP Plc topped with 381,240 units, UBN Property Plc followed with 200,000 units, Mixta Real Estate Plc posted 190,500 units, Acorn Petroleum Plc recorded 100,000 units, and FrieslandCampina Wamco Plc transacted 63,380 units.