NASD OTC investors lose N14.23bn in 5 days from negative price movements
TRADING ACTIVITIES ON the NASD OTC Exchange were mixed last week as the exchange’s benchmark index decreased by 2.24 percent week on week to close the week at 734.62 points against 751.43 points the previous week. As a result, NASD investors lost N14.23 billion in value while the NASD OTC Market capitalization closed at N622.06 billion from N636.29 billion from the previous week’s close resulting from a negative movement in prices.
There was an 80.29 percent week on week decrease in the total value traded during the week as NASD investors traded a total of N39.4 million in value compared to N200 million the previous week. On the other hand, the total volume traded during the week surged 64.4 percent week on week to 4.3 million units compared to 2.6 million units in the previous week.
Furthermore, at the close of the week, NASD Plc ranked top among the five most traded securities by volume with 2.85 million units, Food Concept recorded one million units, with CSCS and Wamco trading 431,790 and 28,128 units, respectively; and NIPCO Plc was the fifth most traded stock by volume in the week with 6,708 units.
The chart of top trades by value saw NASD Plc ranking top among the five most traded securities by value with trades valued at N25.04 million; it was trailed by CSCS with N7.86 million, FrieslandCampina Wamco had a value of N4.83 million, while Food Concept performed the week with total trades valued N810,810 and Niger Delta Exploration & Production Plc stood as the fifth most traded Security by value for the week with N459,350.
Looking into charts for the top gainers and decliners for the week, NASD Plc, topped the table as the lone gainer as it closed the week at N8.50, representing a 0.83 percent increase from the previous close of N8.43.
On the contrary, FrieslandCampina Wamco Nigeria Plc closed the week at N121.50 representing a 10 percent decrease from the previous close of N135, while the Niger Delta Exploration & Production Plc closed the week at N229, representing a 2.55 percent week on week decrease from the previous close of N235.