It was not a great week for investors at the NASD OTC Securities Exchange who lost N97.15 billion of their investment last week after the market index took hit from falling prices of major stocks.
While NASD OTC market capitalization moderated to N911.73 billion from N1.01 trillion recorded in the previous week due to negative movement in prices, the index settled at 693.39 points as against 767.28 points the previous week.
The major culprits for the bearish close were FrieslandCampina, VFD Group and 11 Plc, whose shares traded the week under sell-pressure burden, inciting their negative closes.
Across the trading floor, the level of trading activities was bullish throughout the week as there was a 19.8% week on week uptick in the total value for the week to N570.4 million from N476.12 million the prior week, while the total volume for the week advanced 312.72% week on week to 52.9 million units from 12.82 million the previous in a total of 143 trade deals during the week.
Topping the chart for the most traded security by volume through the week was Food Concept with 50 million units traded through the week. It was followed by VFD Group with 1.15 million units owing to price declines and spurred by sell-offs in the stock. Friesland Campina recorded 661,287 units, while Central Securities and Clearing System traded 457,750 units and NASD Plc was the least traded stock through the week by volume with 248,750 units.
On the other hand, the VFD Group closed the week as the most traded stock with a value of N366.48 million. It was followed by FrieslandCampina with a traded value of N124.96 million, while Food Concept recorded a value of N41.25 million in trades, Niger Delta Exploration and Production Company and Central Securities and Clearing System recorded N23.24 million and N7.75 million in trade values, respectively.
Into the weekly gainers’ chart, Food Concept closed the week at N0.83, representing a 10.67% increase from the previous close of N0.75, while Niger Delta Exploration & Production closed the week at N188.06, representing a 4.48% increase from the previous close of N180.
On flip side, FrieslandCampina Wamco closed the week at N94.15 representing a 49.37% decrease from the previous close of N185.96, followed by 11 Plc, which closed the week at N180, representing a 10% decrease from the previous close of N200.
Also, the NASD Plc closed the week at N14, representing a 5.53% decline from the previous close of N14.82, while VFD Group Plc closed the week at N351.03, representing a 2.98% decrease from the previous close of N361.82; and then, Central Securities Clearing System Plc, also closed the week at N17, representing a 0.58% decrease from the previous close of N17.10.
