Positive start to NASD seen after AG Mortgage, CSCS flat sessions’ rescue

BY: CHARLES ABUEDE

Equity investors on the NASD OTC Exchange maintained value week on week as value trades in AG Mortgage Bank and CSCS Plc kept the market afloat from the previous week with the benchmark index closing week at 730.61 points against 730.61points last week as a result of no price movement on the NSI, while the NASD market capitalization closed flat week on week at N618.66 billion.

Despite the quiet close last week, trading activities across the exchange was mixed or varied as the index recorded a 74.80 percent decrease in the total value traded during the week to N45.27 million from N179.63 million from the previous week, while the total trade volume advanced 90.9 percent week on week to 33.9 million units when compared to the 17.8 million units reported last week.

Across the various sectors of the market, the top traded securities by volume produced AG Mortgage Bank as the most traded stock with 32 million units crossed during the week. It was followed by Food Concept, which saw one million units of its stocks traded.

Also, CSCS Plc joined the group of actively traded tickers by volumes during the week with 0.51 million units, while the likes of NASD Plc and FrieslandCampina Wamco also joined the top traders by volume with 0.37 million and 55,000 units, respectively.

On the other side of the table showing the most traded stocks by market value, the week closed on the NASD OTC market with AG Mortgage Bank ranking top among the five most traded securities by value with total trades worth N16.7 million trades. Trailing the mortgage lender was CSCS Plc with a traded value of N9.16 million.

The Niger Delta Exploration and Production Company also joined as one of the most traded stocks by value last week, along with FrieslandCampina Wamco, recording N8.75 million and N6.72 million in that order; and NASD Plc joined the league with a total trade value of N3.08 million at the close of the week.

Looking at the NASD Exchange’s top price gainers’ and price losers’ charts for the week under review, Central Securities Clearing System Plc led the top gainers’ table closing the week at N18.41, representing a 1.15 percent increase from the previous close of N18.20, while FrieslandCampina Wamco Nigeria Plc, closed the week at N123, representing a 0.70 percent increase from the previous close of N122.15.

On the other hand, the top price losers for the week got AG Mortgage Bank Plc as the leader of that pack. Thus, the mortgage bank closed the week at N0.52, representing a 10.35 percent decrease from the previous close of N0.58. The NASD Plc closed the week at N8.31 representing a 7.77 percent decrease from the previous close of N9.01 and then, Niger Delta Exploration & Production Plc, closed the week at N200, representing a 2.96 percent decrease from the previous close of N206.10.