Adedapo Adesanya
By Adedapo Adesanya
The bulls could not make it three out of three on the floor of the NASD Over-the-Counter (OTC) Securities Exchange on Wednesday, October 28 as the market stepped on a banana peel to fall by 1.41 per cent.
At the end of the day’s trading, the NASD unlisted securities index (NSI) dropped 10.48 points from the previous rate of 740.74 points to close at 730.26 points.
In the same trend, the bourse’s market capitalisation closed at N536.42 billion after investors lost N7.7 billion from the preceding value of N544.12 billion.
The session saw a total volume of 135,500 units of shares transacted by market participants, 145.8 per cent higher than the 55,125 units recorded on Tuesday.
The volume of stocks traded by investors were executed in just two deals on securities belonging to Central Securities Clearing Systems (CSCS) Plc and UBN Properties Plc and the total value of the transactions stood at N1.8 million, 29.1 per cent higher than the N1.4 million realised at the preceding session.
Business Post reports that the unlisted securities market had no price gainer yesterday but there was a price loser and this was CSCS Plc.
The equity price of the securities depository company depreciated by 9.9 per cent or N1.54 to finish at N15.55 per unit as against N14.01 per unit it previously sold.
The loss recorded by the firm was responsible for the negative outcome of the market on Wednesday.
When market activities were ended yesterday, 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 traded by investors. CSCS Plc was in second place with 203.4 million units traded at N2.7 billion while Food Concepts Plc was in the third place with 128.1 million units traded at N90.2 million.
In terms of the most active stock by value (year-to-date), ARM Life Plc also remained on top for trading 7.4 billion units worth N4.6 billion. Niger Delta Exploration and Production (NDEP) Plc trailed for transacting 10.4 million units for N3.2 billion while CSCS Plc followed for selling 203.4 million units valued at N2.7 billion.
