Purple Real Estate Pulls Down NASD Index by 0.13%

By Adedapo Adesanya

Purple Real Estate Income Plc was the sole price decliner on the NASD Over-the-Counter (OTC) Securities Exchange on Wednesday, August 26, pulling down the platform by 0.13 per cent at the close of business.

The company, which operates the soon-to-be-acquired Maryland Mall in Lagos, saw its share price decline by 80 kobo to N7.20 per unit from N8.00 per unit.

The drop in Purple Real Estate’s share price was enough to shrink the NASD Security Index (NSI) by 5.49 points to 4,284.06 points from 4,289.55 points, and reduced the market capitalisation by N3.30 billion to N2.571 trillion from N2.574 trillion.

Yesterday, the volume of securities transacted by investors slumped by 98.7 per cent to 23,682 units from the previous session’s 1.9 million units, the value of securities fell by 80.5 per cent to N2.1 million from the previous trading day’s N10.9 million, and the number of deals slid by 61.1 per cent to 21 deals from 54 deals.

Great Nigeria Insurance (GNI) Plc ended the session as the most traded stock by value on a year-to-date basis, with 3.4 billion units sold for N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units valued at N6.5 billion, and Central Securities Clearing System (CSCS) Plc with 80.0 million units exchanged for N5.8 billion.

GNI Plc also closed the day as the most traded stock by volume on a year-to-date basis, with 3.4 billion units worth N8.4 billion, followed by Infracredit Plc with 2.3 billion units traded for N6.5 billion, and Resourcery Plc with 1.1 billion units transacted for N415.7 million.