NASD OTC Exchange Loses 1.37%

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange weakened by 1.37 per cent on Monday, October 5, as a result of sell-offs by investors on the trading platform.

This shrank the NASD Security Index (NSI) by 61.30 points during the session to 4,400.62 points from the previous 4,461.92 points, and deflated the market capitalisation by N36.79 billion to N2.641 trillion from N2.678 trillion.

Business Post reports that there were four price losers during the session, with no single price advancer.

The heaviest price decliner was Friesland Campina Wamco Nigeria Plc, which shed 9.99 per cent to close at N147.52 per share compared with the previous session’s N163.90 per share. Industrial and General Insurance Plc declined yesterday by 3.77 per cent to settle at 51 Kobo per unit compared with last Friday’s closing price of 53 Kobo per unit, Mass Telecoms Innovation Plc crashed by 2.86 per cent to 34 Kobo per share from 35 Kobo per share, and Central Securities Clearing System (CSCS) Plc lost 0.88 per cent to trade at N101.10 per unit versus the previous N102.00 per unit.

There were 42 deals executed on Monday, 55.6 per cent higher than the 27 deals completed in the previous session. The top deals were executed in MRS Oil Nigeria with 11 deals, with CSCS Plc and Afriland Properties Plc recording seven deals each.

The volume of securities dropped marginally by 1.6 per cent to 1.25 million units from 1.3 million units, while the value of securities surged by 28.2 per cent to N12.1 million from the preceding session’s N29.5 million.

Great Nigeria Insurance (GNI) Plc remained 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 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 transacted for N6.5 billion, and Resourcery Plc with 1.1 billion units traded for N415.7 million.