NASD OTC rack up N1trn cap on price gain in CSCS, NASD, FrieslandWamco

BY CHARLES ABUEDE

The NASD OTC Securities Exchange has officially hit the N1 trillion mark in market capitalisation as market investors gained N54.41 billion value from positive price movements in Friesland Wamco, CSCS Plc and NASD Plc, allowing the benchmark index to increase 5.60 percent week on week to close the week at 780.25 points against 738.87 points the prior week, while the market capitalisation closed at N1.03 trillion compared to N971.52 billion last week.

Also, there was a 33.11 percent decrease in the total value traded during the week as NASD investors traded a total of N149.11 million in value compared to N222.92 million in the previous week. On the flip side, the total volume traded during the week was 4.47 million units compared to 4.2 million units in the previous week leading to a 6.87 percent week on week increase in trade volume.

A look at the most traded securities during the week, shows Industrial and General Insurance Plc led the chart with 3.08 million units of trades, followed by FrieslandCampina Wamco, with 782,719 traded units; while NASD Plc reported 299,000 units, CSCS Plc traded the week with 151,750 units and Afriland Properties posted 144,679 units in total traded volume for the week.

Also, total deals worth N140.26 million in trade value for FrieslandCampina Wamco put the stock ahead of the table as the most traded securities in value and trailed by NASD Plc with N4.43 million, CSCS Plc with N2.38 million, Niger Delta Exploration and Production Company saw trades valued at N1.62 million and then Industrial and General Insurance Plc joined the order with N262,017 trade value.

The weekly gainers on the NASD OTC Exchange were led by FrieslandCampina Wamco which closed the week with a N49.15 gain at N200 representing a 32.58 percent increase from the previous close of N150.85; it was followed by the Central Securities Clearing System, which gained N1.26 to close the week at N17.10 representing a 7.95 percent increase from the previous close of N15.84; and the NASD Plc, which closed the week at N14.82 representing a 2.21 percent increase from the previous close of N14.50.

At the bottom of the table, last week was Afriland Properties which emerged as the lone loser during the week, closing the week at N1.08 representing a 0.92 percent decrease from the previous close of N1.09.