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Wednesday, July 24, 2024

How Nigeria Can Achieve Economic Competitiveness, Prosperity—Ighodalo

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By Adedapo Adesanya

Two companies; FrieslandCampina Wamco Nigeria Plc and Central Securities Clearing System (CSCS) Plc pulled down the NASD Over-the-Counter (OTC) Securities Exchange by 1.06 per cent last week.

The shrank NASD Unlisted Securities Index (NSI) by 7.21 points in the 43rd trading week to 722.16 points from 729.92 points in the previous week, as the market capitalisation of the bourse went down by N10.22 billion to settle at N950.66 billion compared to N960.88 billion a week earlier.

In the five-day trading week, FrieslandCampina lost 6.7 per cent to trade at N70.00 per unit versus the earlier week’s price of N75.00 per unit, while CSCS Plc declined by 0.7 per cent to close at N13.90 per share, in contrast to the preceding week’s value of N13.99 per share.

The alternative stock exchange did not record any weekly price gainer in week 43.

However, the value of transactions decreased in the week by 21.2 per cent to N41.9 million from N127.9 million, the volume of trades depreciated by 21.2 per cent to 1.06 million units from 1.34 million units recorded in week 42, while the number of deals decreased by 15.6 per cent to 25 trades from the 42 trades achieved in the preceding week.

At the close of the week, FrieslandCampina WAMCO Plc was the most traded security by volume, recording the sale of 590.052 units, followed by Famad Plc, which exchanged 450,000 units, CSCS Plc transacted 14,750 units, Food Concepts Plc traded 5,000 units, while Niger Delta Exploration and Production (NDEP) Plc sold 2,700 units.

Also, the most traded stock last week by value was FrieslandCampina WAMCO Plc with the sale of N40.6 million, Famad Plc followed with N562.5 million, NDEP Plc posted N486,000, CSCS Plc recorded N205,800, while 11 Plc raked in N20,400.

In the year so far, according to data from the bourse, investors have traded a total of 3.5 billion units of shares worth N27.2 billion in 2,309 deals.

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