Four Securities Crumble NASD OTC Exchange by 0.52%

By Adedapo Adesanya

Four stocks weakened the NASD Over-the-Counter (OTC) Securities Exchange by 0.52 per cent on Wednesday, October 8, erasing the effect of the N13.41 gain posted by 11 Plc, which closed the session at N283.60 per share compared with its previous day’s value of N270.19 per share.

At midweek, the price of Central Securities Clearing System (CSCS) Plc was down by N1.00 to end at N29.33 per unit versus N30.33 per unit, Food Concepts Plc depreciated by 37 Kobo to finish at N3.38 per share versus N3.75 per share, Industrial and General Insurance (IGI) Plc crashed by 6 Kobo to trade at 52 Kobo per unit versus 56 Kobo per unit, and First Trust Mortgage Bank Plc fell by 1 Kobo to end at 53 Kobo per share compared with the preceding session’s 54 Kobo per share.

As a result, the NASD Unlisted Security Index (NSI) decreased by 18.16 points to 3,456.17 points from Tuesday’s 3,474.33 points and the market capitalisation went down by N10.87 billion to N2.067 trillion from N2.078 trillion.

Yesterday, the volume of securities traded increased by 544.2 per cent to 1.3 million units from the previous session’s 198,730 units, but the value of securities slumped by 44.9 per cent to N9.3 million from the N16.9 million achieved a day earlier, and the number of deals slid by 42.9 per cent to 16 deals from the 28 deals recorded in the previous trading day.

At the close of business, Okitipupa Plc was the most traded stock by value on a year-to-date basis with 160.2 million units worth N6.2 billion, followed by Air Liquide Plc with 507.3 million units transacted for N4.2 billion, and FrieslandCampina Wamco Nigeria Plc with 45.3 million units sold for N2.0 billion.

IGI Plc was the most active equity by volume on a year-to-date basis with the sale of 1.2 billion units for N418.6 million, trailed by Impresit Bakolori Plc with 536.9 million units traded for N524.8 million, and Air Liquide Plc with 507.3 million units worth N4.2 billion.