By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange got stuck in the bears’ territory on Wednesday after it further depreciated by 0.05 per cent at the close of transactions.
The loss was inflicted on the exchange by the decline in the share price of NASD Plc as it shed 68 kobo or 2.8 per cent to close at N24.52 per unit in contrast to N25.22 per unit it closed on Tuesday.
This development triggered a N310 million decline in the market capitalisation of the trading platform, closing at N614.77 billion as against N615.08 billion it finished at the preceding session.
Also, this moderated the NASD Unlisted Security Index (NSI) by 0.36 points to wrap the session at 744.12 points compared with 744.48 points recorded at the previous session.
Business Post reports that the unlisted securities market finished the trading day with no price gainer, unlike the previous day.
A look at the level of activity revealed that yesterday, the volume of securities transacted by market participants increased significantly by 9,912.8 per cent as 20.0 million units were traded in contrast to the 200,000 units traded on Tuesday.
This pushed the value of transactions higher by 6,018.9 per cent to N16.8 million from the previous day’s N275,000, while the number of deals increased by 100.00 per cent to four deals from the two deals carried out on Tuesday.
When the market closed for the session, Food Concepts Plc maintained its spot as the most active stock on a year-to-date basis with the sale of 11.4 billion units of its shares for N14.4 billion. Lighthouse Financial Service Plc remained second for trading 1.1 billion units valued at N546.2 million, while the third, Geo Fluids Plc, has transacted 1.0 billion units worth N700.1 million.
Also, Food Concepts Plc was the most traded stock since the beginning of this year with a turnover of 11.4 billion units worth N14.4 billion, followed by Nigerian Exchange (NGX) Group Plc with 456.5 million units valued at N9.2 billion, and VFD Group Plc with 10.4 million units traded for N3.5 billion.
