Economy
Five Securities Weaken Nigeria’s OTC Stock Market by 0.37%
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange was plunged into danger zone on Tuesday, September 16 by 0.37 per cent due to profit-taking in five stocks on the platform.
During the session, the price of 11 Plc depleted by N20.84 to close at N230.00 per share compared with the previous day’s N250.84 per share, NASD Plc lost 40 Kobo to end at N29.00 per unit versus Monday’s closing price of N29.40 per unit, Afriland Properties Plc dropped 3 Kobo to settle at N22.90 per share compared with the preceding session’s N22.93 per share, First Trust Mortgage Bank Plc fell by 2 Kobo to close at 60 Kobo per unit versus 62 Kobo per unit, and Lagos Building Investment Company (LBIC) Plc slid by 1 Kobo to N2.94 per share from N2.95 per share.
As a result, the market capitalisation of the bourse went down by N7.88 billion to N2.130 trillion from N2.138 trillion and the NASD Unlisted Security Index (NSI) depreciated by 12.88 points to 3,561.24 points from 3,574.12 points.
Yesterday, the volume of securities traded by the market participants increased by 843.1 per cent to 2.3 million units from the previous day’s 247,313 units, the value of securities jumped by 175.6 per cent to N16.2 million from N5.9 million, and the number of deals rose by 18.5 per cent to 21 deals from the 27 deals recorded a day earlier.
Okitipupa Plc finished the trading day as the most active equity by value on a year-to-date basis with 158.7 million units worth N6.0 billion, with Air Liquide Plc in the second position after selling 507.3 million units valued at N4.2 billion, and the third space occupied by FrieslandCampina Wamco Nigeria Plc with 44.9 million units transacted for N2.0 billion.
Industrial and General Insurance (IGI) Plc was the most traded stock by volume on a year-to-date basis with 1.2 billion units traded for N418.4 million, followed by Impresit Bakolori Plc with 536.9 million units valued at N524.8 million, and Air Liquide Plc with 507.3 million units sold for N4.2 billion.
