11 Plc, Two Others Brutalise NASD OTC Market by 1.1%

By Adedapo Adesanya

The trio of 11 Plc, Central Securities Clearing Systems (CSCS) Plc and FrieslandCampina WAMCO Nigeria Plc dragged the NASD Over-the-Counter (OTC) Securities Exchange back to the bearish zone on Tuesday, August 17 with a 1.1 per cent fall.

At the market, 11 Plc, an oil and gas company, depreciated by N10 or 4.6 per cent to close at N220 per share compared with N230 per share it finished on Monday.

On its part, Friesland lost N1.99 or 1.7 per cent to settle at N120.25 per unit in contrast to its previous closing value of N122.24 per unit, while CSCS went down by 32 kobo or 1.9 per cent to close the session at N16.68 per share in contrast to N17 per share of the previous session.

The losses recorded by these three securities weakened the market capitalisation of the NASD OTC market yesterday by N7.15 billion to N648.11 billion from N640.96 billion it closed the preceding day.

Also, this slashed the NASD Unlisted Security Index (NSI) at the close of business by 8.23 points to 737.43 points from 745.66 points it finished a day earlier.

It was observed that the level of activity waned yesterday as there was a decrease in the volume of securities traded by investors by 76.0 per cent to 446,143 units from the previous trading day’s 1.9 million units.

In the same vein, the value of shares transacted at the second session of the week reduced by 66.7 per cent to N14.5 million from N43.6 million.

Also, the number of deals carried out by market participants went down by 25 per cent to 12 deals from the 16 deals executed on Monday.

At the close of transactions, Geo Fluids Plc stayed as the most traded stock by volume (year-to-date) with the sale of 1.0 billion units for N700.1 million, followed by Nigerian Exchange (NGX) Group Plc with 389.3 million units worth N8.2 billion, and Food Concepts Plc with 294.5 million units worth N385.5 million.

The most traded stock by value (year-to-date), however, was NGX Group with 389.3 million units worth N8.2 billion, followed by VFD Group Plc with 6.3 million units valued at N2.0 billion, and Niger Delta Exploration and Production (NDEP) Plc with 3.3 million units valued at N1.0 billion.