FirstTrust, Afriland, Others Maul NASD OTC Bourse by 2.2%

By Adedapo Adesanya

The presence of four price decliners weakened the NASD Over-the-Counter (OTC) Securities Exchange by 2.20 per cent on Tuesday, September 22.

The sinkers were led by FirstTrust Mortgage Bank Plc, which gave up 10 per cent to close at N2.24 per share compared with the previous day’s N2.49 per share. Afriland Properties Plc lost 8.3 per cent to sell at N14.55 per unit versus N15.87 per unit, Central Securities Clearing System (CSCS) Plc fell by 8.2 per cent to N101.00 per share from N110.00 per share, and FrieslandCampina Wamco Nigeria Plc dropped 3.5 per cent to N152.00 per unit from N157.57 per unit.

The sell-offs sank the NASD Security Index (NSI) by 67.07 points to 4,436.04 points from 4,503.11 points, and diluted the market capitalisation by N60 billion to N2.65 trillion from N2.71 trillion.

The volume of trades for the trading session decreased by 16.6 per cent to 1.96 million units from 2.4 million units, and the number of deals declined by 30.3 per cent to 23 deals from 33 deals, while the value of transactions increased by 19.6 per cent to N238.7 million from the preceding session’s N184.2 million.

The most traded stock for the session by value on a year-to-date basis remained Great Nigeria Insurance (GNI) Plc, with a turnover of 3.4 billion units worth N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units valued at N6.5 billion, and CSCS Plc with 81.9 million units exchanged for N6.0 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.