IGI, CSCS Weaken NASD Index by 0.08%

February 2, 2024
Industrial and General Insurance IGI

By Adedapo Adesanya

After consecutive gains, the NASD Over-the-Counter (OTC) Securities Exchange opened the month of February in the negative after it lost 0.08 per cent as the stocks of  Central Securities Clearing System (CSCS) Plc and Industrial and General Insurance (IGI) Plc closed in the red.

The loss posted by the duo cut down the market capitalisation of the bourse by N1.13 billion to N1.469 trillion from N1.470 trillion, as the NASD Unlisted Security Index (NSI) depreciated by 0.83 points to end the day at 1,083.85 points as against the 1,084.68 points it closed on Wednesday.

During the session, the share price of CSCS Plc went down by N1.23 to close at N18.77 per unit compared with the preceding day’s N20.00 per unit and IGI Plc lost 2 Kobo to settle at 24 Kobo per unit, in contrast to the midweek session’s 26 Kobo per unit.

However, Food Concepts Plc saw its value go up by 20 Kobo yesterday to N2.22 per share compared with the previous day’s N2.02 per share.

The trading data showed that investors exchanged 665,283 units of securities on Thursday, which is 53.2 per cent lower than the 1.4 million units of securities transacted by market participants at the last session.

Similarly, the total value of stocks traded at the session amounted to N22.2 million, which is 51.9 per cent lower than the N46.2 million achieved a day earlier, as the number of deals executed during the trading day decreased by 60 per cent to 12 deals from the 30 deals posted in the preceding session.

At the close of business, IPWA Plc was the most traded stock by volume (year-to-date) for exchanging 48.9 million units valued at N24.4 million, UBN Property Plc was in second place with 35.1 million units sold for N61.3 million, and Geo-Fluids stood in third place with 30.1 million units valued at N73.6 million.

The most traded stock by value (year-to-date) remained Aradel Holdings Plc with the sale of 480,057 units for N711.1 million, FrieslandCampina Wamco Nigeria Plc retained the second spot with 2.4 million units valued at N183.9 million, and Geo-Fluids Plc transacted 30.1 million units worth N73.6 million to stay in third.

Adedapo Adesanya

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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