Continued Sell-Offs Shrink NASD Bourse for Sixth Straight Session

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange suffered its sixth consecutive loss on Friday, August 21, after it further gave up 0.54 per cent.

This shrank the market capitalisation of the NASD bourse by N13.92 billion to N2.557 trillion from N2.571 trillion, and weakened the NASD Security Index (NSI) by 23.20 points to 4,261.64 from 4,284.84 points.

According to data from the bourse, 11 Plc lost N9.90 to close at N220.10 per unit versus the previous day’s N230.00 per unit, FrieslandCampina Wamco Nigeria Plc dropped N7.10 to trade at N152.90 per share versus N160.00 per share, and NASD Plc slid by N1.00 to end at N35.00 per unit compared with the preceding session’s N36.00 per unit.

There was a price gainer during the session, and this was Central Securities and Clearing System (CSCS) Plc, which gained 80 Kobo to settle at N83.00 per share, in contrast to Thursday’s closing price of N82.20 per share.

Yesterday, the volume of trades rose by 193.9 per cent to 326,837 units from 112,218 units, the value of transactions increased by 957.9 per cent to N48.6 million from N4.6 million, and the number of deals improved by 36 per cent to 34 deals from 25 deals.

Great Nigeria Insurance (GNI) Plc remained the most active stock by value on a year-to-date basis, with 3.4 billion units valued at N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units worth N6.5 billion, and CSCS Plc with 79.9 million units transacted for N5.8 billion.

GNI Plc also ended the day as the most traded stock by volume on a year-to-date basis, with 3.4 billion units exchanged for N8.4 billion, followed by Infracredit Plc with 2.3 billion units traded for N6.5 billion, and Resourcery Plc with 1.1 billion units sold for N415.7 million.