Adedapo Adesanya
By Adedapo Adesanya
Thursday’s trading session at the NASD Over the Counter (OTC) Securities Exchange closed with a gloomy outlook on October 17, 2019 as key parameters pointed south. Both the NASD Unlisted Security Index (NSI) and the market capitalisation dropped points for the second consecutive day.
The market capitalisation dropped 0.44 percent or N2.19 billion to N499.52 billion on Thursday from N501.71 billion it finished at the previous session on Wednesday.
Following the same trend was the NASD Unlisted Security Index (NSI), which depreciated by 0.44 percent or 3.04 points to settle at 698.33 points in contrast to the 695.29 points quoted the previous day.
In the other parameters tracked on Thursday, only the volume of shares transacted by investors increased. A total of 582,188 units of shares were traded at the market yesterday compared with the previous day’s 333,920 units, representing a 74.4 percent or 248,268 units increment.
However, the value of the trades dropped by 23.6 percent or 20.9 million to N67.8 million on Thursday in contrast to N88.7 million worth of shares transacted at the mid-week trading session. Similarly, the total number of deals went down by one as a total of 14 deals were executed during the session compared with the 15 deals at the previous session.
The market had gainers and losers on Thursday. Friesland, which saw its share price going down by N3.84 to N130.01 per share on Wednesday, gained N1.04 on Thursday to sell at N131.05 per share, ending the day as the only gainer on the exchange.
Niger Delta Exploration and Production (NEDP) Plc, which saw its share price drop by over N10 at the midweek session, recorded a further drop, losing 57 kobo on Thursday to close at N291.43 per share.
NEDP was joined by Central Securities Clearing System (CSCS) Plc as its share price went down by 62 Kobo to trade at N12.38 per share from N13.00 per share.
However, in terms of value by year-to-date, CSCS Plc still holds the top spot with 202,272,698 units worth N2.53 billion transacted from the beginning of this year till yesterday, while UBN Properties followed with 884,529,600 units of its stocks sold for N1.2 billion.
Food Concept Plc still regained the top of trades position by volume (year to date) with transactions of 1,158,797,004 units valued at N843.97 billion, while UBN Properties followed with 891,085,220 units worth N1.21 billion.
