Investors at OTC Exchange Lose N18.93bn

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By Adedapo Adesanya

Portfolios of investors at the NASD Over-the-Counter (OTC) Securities Exchange depreciated by 1.85 per cent on Tuesday, June 14  as a result of the negative price movement in the shares of FrieslandCampina WAMCO Nigeria Plc, dring the bourse back into the red territory.

The milk producer closed the session at the NASD OTC exchange at N90.00 per unit compared with the previous day’s value of N100.00 per share, representing a decline of N10.00.

This shrank the market capitalisation of the alternative exchange by N18.93 billion to N1.003 billion from the previous day’s N1.021 billion.

Following the same trend, the session ended with the NASD Unlisted Securities Index (NSI) shedding 14.38 points to finish at 761.92 points compared with 776.30 points recorded in the previous session.

During the trading day, CitiTrust Holdings Plc closed as the single price gainer after its share price rose by 60 Kobo to settle at N11.00 per unit in contrast to N10.40 per unit it finished a day earlier.

It was observed that investors bought and sold a total of 1.2 million units of shares yesterday, 3,256.9 per cent higher than the 35,562 units of shares traded in the preceding session.

Also, the value of shares traded yesterday increased by 4691.4 per cent to N289.4 million from N6.0 million, while the number of deals went down by 41.7 per cent to seven deals from 12 deals.

AG Mortgage Bank Plc remained the most traded stock by volume (year-to-date) with 2.3 billion units valued at N1.2 billion, Central Securities Clearing System (CSCS) Plc occupied second place with 686.5 million units worth N14.2 billion, while Food Concepts Plc was in third place with 146.5 million units valued at N127.2 million.

Similarly, CSCS Plc retained its spot as the most traded stock by value (year-to-date) with 686.5 million units sold for N14.2 billion, VFD Group was in second place with 11.1 million units valued at N3.3 billion, while FrieslandCampina WAMCO Nigeria Plc occupied the third place for trading 13.9 billion units valued at N1.7 billion.

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