Food Concepts Weakens NASD OTC Bourse by 0.50%

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange was weakened by 0.50 per cent on Tuesday, September 23 following a decline in the price of Food Concepts Plc at the close of transactions.

The parent company of the popular Chicken Republic and PieXpress lost 40 Kobo during the session to end at N3.75 per unit compared with the previous day’s N4.15 per unit, causing the market capitalisation of the unlisted securities trading platform to shrink by N10.60 billion to N2.112 trillion from the N2.123 trillion it ended a day earlier,.

Equally, the NASD Unlisted Security Index (NSI) went down by 17.71 points to close at 3,530.72 points, in contrast to the 3,538.43 points it finished on Monday.

Yesterday, the volume of securities traded by the market participants surged by 345.4 per cent to 2.7 million units from the previous day’s 609,582 units, the value of securities increased by 230.1 per cent to N13.0 million from N3.95 million, and the number of deals rose by 35.7 per cent to 19 deals from 14 deals.

At the close of business, Okitipupa Plc was the most traded stock by value on a year-to-date basis with 158.7 million units worth N5.9 billion, Air Liquide Plc occupied the second spot with 507.3 million units sold for N4.2 billion, and the third place was taken by FrieslandCampina Wamco Nigeria Plc with 44.9 million units valued at N1.9 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 N418.6 million, trailed by Impresit Bakolori Plc with 536.9 million units exchanged for N524.8 million, and Air Liquide Plc with 507.3 million units transacted for N4.2 billion.