NASD Investors Trade 8.3bn Shares Worth N10.4bn in Midweek

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange continued in the bearish territory with a 0.66 per cent decline on Wednesday with the market very busy with trading activities.

According to data obtained by Business Post, the volume of securities traded by NASD investors at the midweek session stood at 8.3 billion units, 105,739.5 per cent higher than the 7.8 million units transacted at the previous session.

Equally, there was a significant rise in the value of shares traded by market participants by 25,701.3 per cent as shares worth N10.4 billion exchanged hands in contrast to the N40.2 million traded on Tuesday.

Also, the number of deals carried out at the exchange during the session went up by 21.74 per cent to 28 deals from the preceding day’s 23 deals.

The market produced three price losers; FrieslandCampina WAMCO Nigeria Plc, Central Securities Clearing Systems (CSCS) Plc and Nigerian Exchange (NGX) Group Plc, at the close of the trading day.

Friesland Plc led with a N2 or 1.7 per cent fall to close at N118 per unit compared with the previous N120 per unit, CSCS Plc went down by 45 kobo or 2.7 per cent to close at N16.50 per unit as against the earlier day’s N16.95 per unit, while NGX Group Plc declined by one kobo or 0.1 per cent to sell at N13.03 per share compared to N13.04 per share it traded on Tuesday.

As a result, the NASD Unlisted Security Index (NSI) depleted by 4.85 basis points to end the day at 732.54 points as against 737.39 points it recorded at the previous session, while the market capitalisation fell by N4.22 billion to N636.70 from N640.92 billion.

The most active stock by volume (year-to-date) at the close of business yesterday was Food Concepts Plc with the sale of 11.4 billion units for N14.5 billion. Geo Fluids Plc was the second-highest traded stock with 1.0 billion units worth N700 million, while NGX Group Plc was in third place with 454.7 million units worth N9.2 billion.

In terms of value, Food Concepts Plc topped the table with 11.4 billion units traded for N14.5 billion, followed by NGX Group Plc with 454.7 million units valued at N9.2 billion, while VFD Group Plc has transacted 10.4 million units worth N3.5 billion.