Weekly Trading Value on NASD Surges by 1,061.6%

By Adedapo Adesanya

Renewed interest in stocks on the NASD Over-the-Counter (OTC) Securities Exchange triggered a 0.4 per cent weekly growth on the exchange.

Business Post reports that the weekly trading value surged by 1,061.6 per cent as investors traded shares worth N1.1 billion compared to the N95.4 million transacted in the previous week.

This increase was because of the 69.9 per cent rise in the total volume of shares achieved as market participants exchanged 10.3 million stocks in the 36th trading week of the year in contrast to the 6.0 million stocks transacted in week 35.

However, the number of deals executed in the five-day trading week went down by 2.8 per cent to 103 deals as against the 106 deals carried out a week earlier.

Nigerian Exchange (NGX) Group Plc was the most traded security by volume with 6.4 million units. VFD Group Plc traded 2.7 million units, NASD Plc exchanged 572,200 units, CSCS Plc transacted 209,046 units, while Food Concepts Plc traded 200,000 units.

In terms of the value, VFD Group Plc was the most traded with N985.9 million, NGX Group Plc transacted N103.3 million, FrieslandCampina WAMCO Nigeria Plc posted N13.3 million, CSCS Plc recorded N3.3 million, while NASD Plc traded N2.5 million.

In the year so far, investors have traded a total of 1.9 billion units of securities valued at N15.9 billion in 3964 deals.

There were two price gainers in the week led by NASD Plc, which rose by 45.7 per cent to N5.10 per unit from N3.50 per unit. The second riser was CSCS Plc, which grew by 5.1 per cent to settle at N17 per share compared with the previous week’s N16.13 per share.

Three equities depreciated in price last week led by Food Concepts Plc, which fell by 6.9 per cent to 80 kobo per unit from 86 kobo per unit. It was trailed by NGX Group Plc, which lost 1.5 per cent to finish at N16.20 per share compared with the previous week’s N16.45 per share, and Friesland, which went down by 1.2 per cent to N121.05 per unit from N122.52 per unit.

At the close of the week, the NASD Security Index (NSI) went up by 2.97 points to 737.87 points from 734.90 points, while the market capitalisation increased by N2.59 billion to N641.34 billion from N638.75 billion.