NASD OTC investors gain N15bn on positive price movements

THE NASD OTC SECURI TIES Exchange Index closed the first trading week in June on a positive note with the NSI return increasing by 2.78 per cent to close at 773.22 points against 752.3 points, while NASD Security Index year to date returns increased by 4.25 per cent.

In addition, NASD investors gained N14.87 billion in value while the market capitalisation closed at N549.61 billion compared to N534.74 billion as of the previous week resulting from a positive movement in prices.

On the other hand, the level of trading activity dipped as there was a 70.2 percent decrease in the total value traded during the week to N221.89 million compared to the previous week’s N744.31 million, while the volume of total trade also recorded a 26.3 decline to 12.5 million units compared to 24.8 million units in the previous week.

A look at the top traded securities for the week saw the week close with Nigerian Exchange Group ranking top among the five most traded securities by volume with a total of 8.2 million units. Also, Lighthouse Financial Services (3.4m units), Central Securities and Clearing System (0.46m units), FrieslandCampina Wamco (0.11m units) and NIPCO (0.1m units) followed in that order to the fifth most traded stock by volume traded in the week.

On the other side of the top traders, the week closed with Nigerian Exchange Group (N164.9m) ranking top among the five most traded securities by value, followed by Niger Delta Exploration and Production (N26.2m), FrieslandCampina Wamco (N13.1m), Central Securities and Clearing System (N8.4m), while NIPCO (N7.4m) stood as the fifth most traded security by value for the week.

Leading the gainers’ pack, NIPCO closed the week at N73.70, representing a 10 percent increase from the previous close of N67. Also, FrieslandCampina Wamco closed the week at N128.50 representing a 5.99 per cent increase from the previous close of N121.23. Central Securities and Clearing System closed the week at N18.56 representing a 5.97 per cent increase from the previous close of N17.53 and the Niger Delta Exploration and Production closed the week at N300 representing a 2.57 percent increase from the previous close of N292.48.