Economy
Five Stocks Weaken Unlisted Securities Exchange by 1.03%
By Adedapo Adesanya
Five stocks triggered a 1.03 per cent drop at the NASD Over-the-Counter (OTC) Securities Exchange on Tuesday, November 3.
Leading the losers’ chart was FrieslandCampina Wamco Nigeria Plc, which lost N9.00 to close at N122.00 per share compared with the preceding day’s N131.00 per share. Central Securities Clearing System (CSCS) Plc went down by N1.56 to N92.70 per unit from N94.26 per unit, First Trust Mortgage Bank Plc weakened by 24 Kobo to N2.19 per share from N2.43 per share, Food Concepts Plc dropped 3 Kobo to sell at N2.00 per unit versus N2.03 per unit, and Mass Telecom Innovation Plc crumbled by 3 Kobo to close at 31 Kobo per share compared with Monday’s 34 Kobo per share.
As a result, the market capitalisation of the unlisted securities exchange moderated by N26.42 billion to N2.537 trillion from N2.564 trillion, and the NASD Security Index (NSI) fell by to 44.02 points to 4,228.46 points from 4,272.48 points.
Business Post reports that there were two price gainers yesterday, led by Industrial and General Insurance (IGI) Plc, which added 6 Kobo to sell at 68 Kobo per unit versus 62 Kobo per unit, and UBN Property Plc gained 3 Kobo to settle at N2.20 per share versus N2.17 per share.
The volume of securities executed during the session slumped by 80.6 per cent to 262,005 units from 1.3 million units, the value of securities slid by 22.5 per cent to N23.7 million from the preceding session’s N30.6 million, and the number of deals slumped by 36.5 per cent to 23 deals from 36 deals.
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.
