Investments in OTC Equities Yield N34.13bn in One Week

Investors at the NASD Over-the-Counter (OTC) Securities Exchange saw their stocks swell by N34.13 billion amid sustained growth, resulting in the fourth straight weekly rise by the bourse.

Last week, which was the 27th week of trading of 2023, the market capitalisation of the unlisted stock exchange went up by 3.28 per cent to N1.074 trillion from N1.040 trillion it ended in Week 26.

Equally, the NASD Unlisted Securities Index (NSI) expanded by 24.67 points to wrap the week at 776.70 points compared with 752.03 points recorded in the previous week.

In the five days of trading, there was a 99.6 per cent decrease in the total value of transactions to N80.7 million compared to the N21.7 billion achieved in the previous week.

Also, the total volume of trades during the week dropped 99.3 per cent to 8.1 million units, in contrast to the 1.1 billion units recorded in the previous week, as the number of deals increase by 50.7 per cent to 113 deals from the 75 deals posted a week earlier.

There were seven gainers against three losers at the close of the trading week, with FrieslandCampina Wamco Nigeria Plc gaining 13.9 per cent to close at N79.90 per unit versus N69.98 per unit, while Niger Delta Exploration and Production (NDEP) Plc chalked up 11.1 per cent to settle at N360.00 per share versus N275.50 per share.

Further, 11 Plc rose by 0.2 per cent to N169.40 per unit from N144.00 per unit, Afriland Properties Plc grew by 9.8 per cent to N2.87 per unit from N2.62 per unit, UBN Property Plc expanded by 9 per cent to close at N1.09 per share versus N1.00 per share, Air Liquide Plc appreciated by 10 per cent to N5.50 per unit from N5.00 per unit, and Geo Fluids Plc rose by 1.7 per cent to N3.05 per share from N3.00 per share.

On the flip side, Central Securities Clearing System (CSCS) Plc depreciated by 0.01 per cent to close at N17.86 per unit verse N18,00 per unit, Industrial and General Insurance (IGI) Plc slipped by 9 per cent to 7 Kobo per share from 8 Kobo per share, and Acorn Petroleum Plc shed 5.9 per cent to 16 Kobo per unit compared with the previous week’s 17 Kobo per unit.

At the close of the week, Geo-Fluids Plc was the most traded stock by volume with 5.39 billion units, Acorn Petroleum Plc sold 1.17 million units, Food Concepts Plc exchanged 490,000 units, FrieslandCampina Wamco Nigeria Plc transacted 370,000 units, while IGI Plc traded 180,000 units.

By value of trades, FrieslandCampina Wamco Nigeria Plc topped with N28.28 million, NDEP Plc followed with N22.3 million, Geo-Fluids Plc posted N16.5 million, 11 Plc recorded N5.21 million, while Nipco Plc transacted in N3.42 million.


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