Buy interest in NASD, Friesland Wamco, claws investors N18.9bn profit

IT WAS A MIXED wonder of market activities last week on the NASD OTC Securities Exchange as major buys in some of the exchange’s bellwethers, such as NASD Plc and FrieslandCampina Wamco, drove a 1.95 percent week on week close for the unquoted equities market resulting from positive price movement and increased buying interests from market investors. As a result, a total profit value of N18.9 billion was taken out from the market by investors as the market capitalization inched further to N971.52 billion from N952.62 billion the previous week.

Consequently, the NASD share index closed the week at 738.87 points against 724.49 points last week while the year to date return of the market moderated to 0.54 percent from 93 deals. Across the counter, the level of activity varied as there was a 362.21 percent increase in the total value traded during the week to N222.92 million from N48.23 million recorded the previous week while the total trade volumes plunged by 43.19 percent during the week to 4.18 million units from 7.36 million the prior week.

Across the sectoral front, the finance and insurance sectors led the chart of major trades followed by major buys witnessed in the consumer goods and oil and gas index respectively. Thus, the sectoral performance throughout the week was weak. As a result, the most traded securities by value were led by Frieslandcampina Wamco with deals worth N142.44 million.

This was followed by Niger Delta Exploration and Production company with N40.35 million, Central Securities Clearing System recorded N25.16 million, NASD Plc at N14.76 million and 11 Plc (formerly Mobil) closed the week with N187,200.

Also, the week closed with the Central Securities Clearing System ranking as the most traded security by volume during the week with 1.61 million units, followed by NASD Plc with 1.07 million units. FrieslandCampina Wamco, Niger Delta Exploration and Production Company and the Industrial and General Insurance followed on the chart of most traded stock for the week with 1.06 million units, 213,700 units, 216,000 units respectively.

Leading the gainers’ chart was NASD Plc which closed the week at N14.50, representing a 20.83 percent increase from the previous close of N12; while FrieslandCampina Wamco Nigeria closed the week at N150.85 representing a 20.68 percent increase from the previous close of N125. On the other hand, the Central Securities Clearing System Plc closed the week at N15.84, representing a 8.60 percent decrease from the previous close of N17.33 as the lone loser.

MTN NIGE RIA, WHICH provides telecoms and mobile money services across Nigeria said it will raise up to N150 billion in commercial papers from the Nigerian capital market to further diversify its financing options with the proceeds from the sale of the CPs deployed towards working capital and corporate purposes.

In a statement filed to the Nigerian Exchange Limited (NGX) on Tuesday, the largest wireless carrier said the issuance of up to N150 billion Series 1 and 2 commercial papers