By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange Plc witnessed a 9.5 per cent plunge on Friday, closing below the N1 trillion mark it reached earlier this month.
The alternative stock exchange in Nigeria was able to reach this threshold after the listing of Access Bank Plc on the trading platform. Access Bank exited the Nigerian Exchange (NGX) Limited after the listing of its parent company, Access Holdings Plc, on the main bourse, the NGX.
Yesterday, the market capitalisation of the bourse depreciated by N96.04 billion to wrap the day at N911.73 billion compared with the previous day’s N1.00 trillion, while the NASD unlisted securities index (NSI) shed 73.11 points to close at 693.39 points in contrast to Thursday’s 766.40 points.
It was observed that the loss occurred despite the 4.4 per cent or 74 kobo price appreciation recorded by Central Securities Clearing System (CSCS) Plc. The company’s share price rose to N17.00 per unit from N16.26 per unit.
Business Post reports that the trading volume slumped yesterday by 85.9 per cent to 28,350 units from the 200,864 units transacted at the previous session, while the trading value slid by 96.2 per cent to N1.4 million from the previous day’s N35.2 million, with the number of deals declining by 81.8 per cent to six deals from 33 deals in the previous session.
A breakdown revealed that two stocks were traded by investors on Friday and they were CSCS Plc and FrieslandCampina WAMCO Nigeria Plc. CSCS accounted for 18,000 units worth 306,000 executed in a single deal, while FrieslandCampina accounted for 10,350 units worth N1.04 million carried out in 5 deals. Its share price remained unchanged during the session.
In terms of the volume of shares transacted by investors on a year-to-date basis, AG Mortgage Bank Plc was on top with 2.3 billion units valued at N1.2 billion, trailed by CSCS Plc with 661.2 million units worth N13.9 billion, and Food Concepts Plc with 69.0 million units valued at N56.0 million.
However, by value on a year-to-date basis, CSCS Plc was on top with 661.2 million units exchanged for N13.9 billion, AG Mortgage Bank Plc was in second place with 2.3 billion units worth N1.2 billion, while FrieslandCampina WAMCO Nigeria Plc was in third place with 5.9 million units valued at N862.5 million.
Modupe Gbadeyanka