Adedapo Adesanya
By Adedapo Adesanya
The bears visited the floor of the NASD Over-the-Counter (OTC) Securities Exchange on Wednesday, June 16 and left the exchange battered by 0.77 per cent at the close of business.
The visit was on the invitation of Central Securities Clearing Systems (CSCS) Plc, which succumbed to profit-taking, leaving its stock price to deplete by 68 kobo or 3.8 per cent to N18 per unit against N18.68 per unit it was sold on Tuesday.
The loss printed by CSCS weakened the gains posted by Nigerian Exchange (NGX) Group Plc. The share price of the company increased by 35 kobo or 1.7 per cent to sell at N20.39 per unit compared to N20.04 per unit of the previous session.
At the end of the day’s trading, the NASD Unlisted Securities Index (NSI) dropped 5.76 points from the previous index of 746.19 points to close at 751.95 points.
In the same trend, the bourse’s market capitalisation closed at N530.40 billion after investors lost N4.09 billion. At the preceding session, the total value of the unlisted securities on the exchange stood at N534.49 billion.
During the session, the total volume of shares traded by market participants reduced by 53.0 per cent to 3.1 million units from 6.5 million units published at the previous closing session.
These trades were carried out in 35 deals, 2.9 per cent higher than the 34 deals recorded previously, while the value of these transactions was N67.9 million, 47.4 per cent lower than the N129.2 million realised at the preceding session.
NGX Group continued to be the most active stock by volume (year-to-date) as it has traded 269.1 million units of its shares for N6.1 billion. Swap Technologies & Telecomms Plc was in second place with 46.6 million units worth N41.0 million while CSCS Plc held the third position with 31.1 million units of its shares worth N487.1 million.
In terms of value, NGX Group remained on top with 269.1 million units of securities were traded for N6.1 billion. Niger Delta Exploration and Production (NDEP) Plc remained in the second spot with 2.9 million units of its securities valued at N900.5 million, while FrieslandCampina WAMCO Nigeria claimed the third spot with 5.9 million units valued at 750.6 million.
