Bears Pull Back NASD Trading Platform by 0.08%

By Adedapo Adesanya

The bears showed up at the NASD Over-the-Counter (OTC) Securities Exchange on Wednesday, pulling back the trading platform by 0.08 per cent.

They came into the unlisted securities market through two bellwethers and depleted the market capitalisation of the exchange by N550 million to N655.54 billion from N656.09 billion it closed on Tuesday.

Also, they ransacked the NASD Unlisted Security Index (NSI) by 0.64 points and brought it down to 754.21 points from the preceding session’s 754.85 points.

Business Post reports that FrieslandCampina WAMCO Nigeria Plc was one of the worst-performing stocks recorded yesterday as its value went down by N7.05 or 5.9 per cent to sell at N120.20 per unit compared to N127.25 per unit it ended at the previous session.

The second decliner was the Nigerian Exchange (NGX) Group Plc, which fell by 19 kobo or 1.1 per cent to settle at N17.10 per share in contrast to N17.29 per share on Tuesday.

The market was not without a price gainer as the share value of Central Securities Clearing Systems (CSCS) Plc appreciated on Wednesday by N1.34 or 7.3 per cent to close at N18.45 per unit versus the prior day’s N17.11 per unit.

During the session, the volume of securities reduced by 98.4 per cent to 4.7 million units from 290.3 million units, the value of stocks transacted by investors equally dropped by 73.1 per cent to N112.1 million from N112.1 million, while the number of deals went down by 11.1 per cent to 32 deals from 36 deals.

At the close of transactions, Geo Fluids Plc did not give up its position as the most traded stock by volume (year-to-date) with 1.0 billion units of its shares traded for N700.1 million. NGX Group maintained its second spot with 359.7 million units worth N7.7 billion, while Food Concepts Plc still held tight to third place with 292.0 million units worth N383.6 million.

However, NGX Group remained as the most traded stock by value (year-to-date) for transacting 359.7 million shares worth N7.7 billion. VFD Group Plc kept the second spot with 4.1 million units worth N1.3 billion, while Niger Delta Exploration and Production (NDEP) Plc retained the third position for trading 3.2 million stocks for N978.8 million.