Adedapo Adesanya
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange closed in the negative territory as it fell 0.08 per cent drop on Wednesday, October 4.
The unlisted securities market depreciated in the midweek session as a result of the poor performance of Central Securities Clearing System (CSCS) Plc. The share price of the firm went down by 45 Kobo to N17.55 per unit from the preceding day’s N18.00 per unit.
This pulled down the market capitalisation of the bourse by N910 million to N1.103 trillion from the previous day’s value of N1.104 trillion.
Similarly, it weakened the NASD Unlisted Securities Index (NSI) by 0.67 points at the close of business to 813.35 points as against the 814.02 points it recorded in the previous session.
A look at the activity chart indicated that the volume of securities traded yesterday increased by 262.7 per cent to 422,250 units from 116,434 units and the number of deals increased by 77.8 per cent to 16 deals from nine deals, while the value of shares traded decreased by 38.1 per cent to N9.3 million from N15.1 million.
Business Post reports that the alternative stock exchange had two price gainers in the midweek session, though they could not change the outcome of the market.
FrieslandCampina Wamco Nigeria Plc appreciated by 45 Kobo to sell at N73.75 per share versus N73.30 per share, and Geo-Fluids grew by 11 Kobo to end at N3.01 per unit compared with Tuesday’s N2.09 per unit.
CSCS Plc ended the day as the most traded stock by volume (year-to-date) with 1.1 billion units sold for N22.2 billion, UBN Property Plc was in second place with 946.2 million units valued at N942.2 million and Geo-Fluids Plc stood in third place with 667.8 million units worth N1.2 billion.
CSCS Plc was also the most traded stock by value (year-to-date) with 1.1 billion units worth N22.2 billion, VFD Group trailed with 26.6 million units valued at N5.9 billion, and Aradel Holdings Plc was in third place with 6.2 million units valued at N2.2 billion.
