Market Capitalisation of NASD Exchange Drops N15.05bn
By Adedapo Adesanya
The market capitalisation of the NASD Over-the-Counter (OTC) Securities Exchange plunged by 2.42 per cent or N15.05 billion on Monday, March 14, followed by a decline in the prices of FrieslandCampina WAMCO Nigeria Plc and Central Securities Clearing Systems (CSCS) Plc.
The total value of securities on the platform reduced to N606.62 billion from N621.67 billion, while the NASD Unlisted Securities Index (NSI) decreased by 17.77 points to wrap the session at 716.39 points compared with 734.16 points recorded at the previous session.
At the trading session, FrieslandCampina depreciated by N11.06 or 9.7 per cent to settle at N114.10 per share compared with the preceding session’s N125.16 per share, while CSCS Plc depreciated by 85 kobo or 4.8 per cent to sell for N17.55 per unit in contrast to N18.40 per unit of the preceding session.
During the session, the volume of securities traded by investors declined by 97.9 per cent to 107,515 units from 5.0 million units, while the value of shares traded went down by 85.7 per cent to N7.5 million from N52.5 million, with the number of deals appreciating by 125 per cent to nine deals from four deals.
Further analysis of the activity chart showed that CSCS Plc remained as the most traded stock by volume on a year-to-date basis with a turnover of 657.0 million units worth N13.8 billion, followed by AG Mortgage Bank Plc with a turnover of 32.0 million units valued at N16.7 million and NASD Plc with a turnover of 31.9 million units valued at N315.3 million.
Also, CSCS Plc ended the session as the most active stock by value on a year-to-date basis with the sale of 657.0 million units valued at N13.8 billion, VFD Group Plc occupied the second spot with 916,161 units worth N331.5 million, while the third spot was taken by FrieslandCampina WAMCO Nigeria Plc with the sale of 2.6 million units for N319.0 million.