NASD OTC rebounds as investors recoup N440m

Weekly trading at NASD OTC turned positive last week delight of investors in the market who made home with N440 million gain.

This was as the OTC Securities Exchange Index closed 0.071 per cent week on week at 745.88 points with a positive return on the NSI. Also, the NASD market capitalization closed at N615.86 billion compared to N615.42 billion as of the previous week resulting from a positive movement in prices.

The level of trading activities last week was bullish as there was a 141.22 percent increase in the total value traded during the week to N84.5 million in value compared to N34.84 million in the previous week.

Also, there was a record of 896.6 percent week on week increase to 23.36 million units traded through the week, from 2.34 million units in trade volume the previous week from 30 deals.

A look at the top traded securities for the week put Food Concepts Plc as ranking top among the five most traded securities by volume with 20 million units and it was trailed by NASD Plc with 2.37 million units, UBN Properties with 0.7 million units, Mixta Real Estate recorded 0.2 million units while Friesland Campina representing a 10 percent increase from the previous close of N0.90.

Also, the NASD Plc, closed the week at N26.99, representing a 7.02 percent increase from the previous close of N25.22, and Friesland Campina, which closed the week at N121.00 representing a 1.32 percent increase from the previous close of N119.42.

The losers for the week were the Food Concepts, which closed the week at N0.81, representing a 10 percent decrease from the previous close of N0.90; and Mixta Real Estate, which closed the week at N1.76, representing a 9.74 percent decrease from the previous close of N1.95 emerged as the fifth most traded stock by volume traded in the week.