Adedapo Adesanya
By Adedapo Adesanya
Trading at the NASD Over-The-Counter (OTC) Securities Exchange closed bearish on Thursday as the market capitalization dropped to N514.64 billion from Wednesday’s N516.81 billion, indicating a decline of 2.17 billion or 0.42 percent.
Also, the NASD Unlisted Security Index (NSI), depreciated during the trading session by 0.42 percent or 3.02 points to close at 716.33 points in contrast to the previous day’s 719.35 points.
Data obtained from NASD showed that there was a 6.25 percent drop in the volume of transactions recorded on the fourth trading day of the week as the volume of shares exchanged by investors on the platform for unlisted firms in the country went down to 123,850 units from the 132,000 units registered on Wednesday.
In addition, the value of the traded securities also went down to N8.97 million yesterday from N38.94 million achieved during the mid-week session, indicating a decline of 76.96 percent or n29.97 million.
The only semblance of good news was the number of deals executed on Thursday which went up by 66.67 percent. Business Post reports that the market recorded five deals on Thursday against three on Wednesday.
Friesland Campina Wamco Plc also shared in the bad news as it was the only price loser at the market after it lost N2.22 or 1.63 percent to trade at N136 from its previous price of N138.22.
It was observed that there was no price gainer during Thursday’s trading session.
Food Concept Plc still led the top trades by volume (year to date) chart as at Thursday with transactions of 1,158,797,004 units of its stocks valued at N843.97 billion, while UBN Properties followed with 891,085,220 units worth N1.21 billion.
In terms of value by year-to-date, Central Securities Clearing System (CSCS) Plc tightened its grip on the top spot with 202,272,698 units worth N2.53 billion transacted from the beginning of this year till yesterday, while UBN Properties followed with 884,529,600 units of its stocks sold for N1.2 billion.
