Adedapo Adesanya
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange extended its stay in the negative zone on Friday as it went down by 0.68 per cent at the close of business.
The NASD market closed bearish as a result of the decline in the share prices of Central Securities Clearing Systems (CSCS) Plc and UBN Property Plc.
During the trading session, CSCS Plc depreciated by N1.03 or 6.4 per cent to trade at N16.17 per unit compared with the previous close of N17.20 per unit, while UBN Property Plc fell by one kobo or one per cent to trade at 99 kobo per share in contrast to N1 per share of the preceding session.
The duo weakened the gains printed by Nigerian Exchange (NGX) Group Plc as the stock could not determine the outcome of the unlisted securities market. NGX Group Plc appreciated by 44 kobo or 2.7 per cent to close at N16.45 per unit as against N16.01 per unit it traded a day earlier.
At the close of transactions, the total value of stocks on the exchange decreased by N4.35 billion to N638.75 billion from N643.10 billion, while the NASD Unlisted Security Index (NSI) decreased by 4.99 points to wrap the session at 734.90 points compared with 734.90 points recorded at the previous session.
Business Post reports that there was an increase of 125.7 per cent in the volume of securities traded at the bourse at the final session for the week as investors exchanged 2.9 million units compared to 1.3 million units of securities traded at the preceding session.
There was also a rise in the value of shares traded yesterday by 56.5 per cent to N32.6 million from N20.8 million made on Thursday. These trades were carried out in 27 deals, 22.7 per cent higher than the 22 deals executed at the preceding session.
Geo Fluids Plc finished the trading day as the most active stock by volume (year-to-date) as it has traded 1.0 billion units of its shares for N700.1 million. NGX Group Plc remained on the second spot as it has traded 417.9 million units valued at N8.7 billion, while Food Concepts Plc occupied third place with 295.0 million units worth N386 million.
However, the most active stock by value (year-to-date) was NGX Group Plc for transacting 417.9 million units of its securities for N8.7 billion. VFD Group Plc remained in the second spot with 6.6 million units of its securities valued at N2.2 billion, followed by FrieslandCampina WAMCO Plc with 8.2 million units worth N1.0 billion.
