Adedapo Adesanya
By Adedapo Adesanya
Securities trading on the NASD Over-the-Counter (OTC) Securities Exchange were unable to keep the bulls for another session as the market welcomed the bears for the first time in four sessions on Wednesday.
The fall in market performance can be attributed to the loss recorded by Central Securities Clearing Systems (CSCS) Plc as shares of the Nigerian securities depository company weakened by 30 kobo or 2.03 per cent to N14.50 per unit from N14.80 per unit.
This made the market capitalisation to decrease by 0.26 per cent or N1.41 billion to N538.98 billion from N540.39 billion and shortened the NASD Unlisted Securities Index (NSI) by 0.26 per cent or 1.91 points to 733.74 points from 735.65 points published at the previous session.
During the trading day, there was a 98.8 per cent drop in the total value of securities traded by investors as stocks worth N5.7 million were exchanged at the bourse compared with N472.6 million exchanged at the preceding session.
There were seven deals made at the midweek session and these were executed on three companies.
More investors rushed to get FrieslandCampina WAMCO Nigeria Plc securities as it accounted for four deals, while Niger Delta Exploration and Production (NDEP) Plc accounted for two deals with CSCS recording a single deal.
These deals accounted for the 47,450 units of stocks traded at the session, 97.9 per cent lower than the 2.2 million units recorded at the previous session.
FrieslandCampina WAMCO Nigeria Plc closed as the highest price gainer, adding 10 kobo or 0.07 per cent to its stock price to close at N140 per unit as against N139.90 per unit it closed on Tuesday.
ARM Life Plc maintained its position as the most traded stock by volume (year-to-date) with 7.4 billion units of its shares worth N4.6 billion, while CSCS Plc followed for trading 203 million units valued at N2.7 billion, with Food Concepts Plc in the third spot after selling 128.1 million units of its shares worth N90.2 million.
Equally, ARM Life Plc also remained the most traded stock by value (year-to-date) from the sale of 7.4 billion units of securities worth N4.6 billion, while NDEP Plc was in second place with 10.4 million units valued at N3.2 billion, with CSCS Plc in the third spot for trading 203 million units worth N2.7 billion.
