Adedapo Adesanya
By Adedapo Adesanya
Equities admitted to the NASD Over-the-Counter (OTC) Securities Exchange ended the 30th trading week of the year on a positive note after it appreciated by 1.25 per cent on a week-on-week basis.
It was the first time the unlisted stock market was closing bullish in the last three weeks amid panic selling triggered by the unstable economic environment in Nigeria.
Last week, the market capitalisation of the alternation equity bourse grew by N9.89 billion as it moved from N1.066 trillion in Week 29 to N1.077 trillion, as the NASD Unlisted Securities Index (NSI) increased by 9.63 points to wrap the week at 778.96 points compared with 769.33 points recorded in the previous week.
The gains reported in the trading week were supported by four securities, which neutralised the losses printed by three price losers led by NASD Plc, which fell by 9.3 per cent to close at N12.65 per unit versus the previous week’s N13.95 per unit. Geo-Fluids Plc lost 4.9 per cent to trade at N2.90 per share versus N3.05 per share, as Purple Real Estate Plc depreciated by 0.2 per cent to N5.20 per share from N5.21 per share.
On the flip side, FrieslandCampina Wamco Nigeria Plc rose by 9.6 per cent to N77.61 per unit from N70.81 per unit, Nipco Plc improved its value by 10 per cent to N71.50 per share from N65.00 per share, Afriland Properties Plc rose by 2.2 per cent to N3.32 per share from N3.25 per share, and Acorn Petroleum Plc added 11.8 per cent to end at 19 Kobo per unit compared with the preceding week’s 17 Kobo per unit.
In the week, the total volume of transactions increased by 364.1 per cent to 42.9 million units from 9.2 million units, the value of transactions surged by 180.7 per cent to N308.8 million from N110.0 million, and the number of deals depreciated by 21.43 per cent to 99 deals from 126 deals.
At the close of the week, Purple Real Estate Plc was the most traded equity by value with N157.0 million, FrieslandCampina Wamco Nigeria Plc traded N118.4 million, UBN Property Plc exchanged N11.0 million, CSCS Plc transacted N9.84 million, and Nipco Plc traded N5.47 million.
By volume, Purple Real Estate Plc also topped with 30.2 million units, UBN Properties Plc sold 10 million units, FrieslandCampina Wamco Plc posted 1.6 million units, CSCS Plc recorded 580,000 units, and NASD Plc traded 300,000 units.
