BY CHARLES ABUEDE
The bulls ruled on the NASD OTC Securities Exchange Index, which closed the week with a positive movement on the NSI as the exchange’s market capitalization rose to N1.05 trillion following positive price movements in Food Concepts and NASD Plc to give investors N1 billion in weekly profit.
Also, the NSI return increased by 0.22 percent to close the week at 794.83 points as against 793.0 points recorded in the previous week following the listing of one billion shares of CitiTrust Holdings worth N5.5 billion during the week.
Similarly, the level of market activities was mixed throughout the week as the market recorded a 23.92 percent increase week on week in the total value traded to N98.84 million from N79.75 million in the previous week, while the total volume traded during the week was 8.02 million units compared to 29.99 million units in the previous week, leading to a 73.26 percent decrease in trade volume week on week.
Across the sector, it was a strong performance as the week closed with Food Concepts PLC ranking top among the five most traded securities by volume with a total trade of 3.95 million, followed by NASD Plc with 3.16 million, CSCS Plc with 516,900 units, Friesland Wamco with 244,156 units and NIPCO Plc as the fifth most traded stock by volume traded in the week with 100,000 traded units.
Elsewhere, NASD Plc ranked top among the five most traded securities by value with its total trade valued at N44.28 million followed by Friesland Wamco with a value of N26.65 million, Niger Delta Exploration and Production Company with N9.5 million, while CSCS Plc and Nipco Plc recorded, N8.2 million and N6.2 million respectively.
The bulls drove massive gains on the NASD exchange as all tickers closed in the green with no loser during the week. To this, NASD Plc closed the week at N14 representing a 2.04 percent increase from the previous close of N13.72. Also, FrieslandCampina Wamco Nigeria Plc, closed the week at N110 representing a 0.92 percent increase from the previous close of N109 and then the Central Securities Clearing System Plc, closed the week at N17, representing a 0.29 percent increase from the previous close of N16.95
