Bulls seen back on NASD OTC as investors gain N5.31bn
WITH EQUITIES ANALYSTS expecting a major catalyst to spur more bullish market momentum this week as profit season continues on the NASD equities bourse, the NASD OTC Securities Exchange Index closed the last trading week with a positive movement as Friesland Wamco and the NASD Plc prompting the NASD Security Index (NSI) whose return had a 0.86 percent change week on week, to close the week at 734.16 points against 730.61 from last week’s close, while NASD Investors gained N5.31 billion in profit value.
Similarly, the NASD OTC market capitalization closed at N621.67 billion compared to N618.66 billion the previous week due to a positive movement in prices.
It was a mixed load of activities last week on the exchange as there was a 250.27 percent increase in the total value traded during the week to N158.56 million in compared to N45.27 million in the preCASH vious week, while the total volume traded during the week was 10.6 million units compared to 33.9 million units in the previous week, which led to a 68.57 percent decrease in trade volume compared to the prior week’s traded volumes.
On the most traded securities during the past week, the week closed with NASD Plc ranking top among the five most traded securities by volume with a total of 10 million units, trailed by FrieslandCampina Wamco with 382,851 units, CSCS Plc with 243,900 units, the Niger Delta Exploration and Production Company reporting 33,000 in total volumes, and Afriland Properties Plc was the fifth most traded stock by volume, as it traded 2,854 units in the week.
On the other hand, the week closed with NASD Plc ranking top among the five most traded stocks by value with a total of N99.57 million and it was followed by FrieslandCampina Wamco with N47.89 million in total trade value.
The Niger Delta Exploration and Production Company recorded N6.56 million alongside CSCS Plc with N4.47 million and NIPCO Plc stood as the fifth most traded stock by value for the week with total trades amounting to N49,680 in value.
At the close of the week, top gainers on the NASD exchange witnessed positive price movements, which resulted in price advancements as FrieslandCampina Wamco Nigeria Plc gained N2.16 week on week, to close the week at N125.16 representing a 1.76 percent increase from the previous close of N123. And then, NASD Plc, gained N2.14 week on week also to close the week at N10.45 representing a 25.75 percent increase from the previous close of N8.31.
However, Central Securities Clearing System Plc, was the only loser during the week as it recorded a marginal 0.05 percent decline in stock price resulting from selling pressures in the stock to close the week at N18.40 from the previous close of N18.41.