Adedapo Adesanya
By Adedapo Adesanya
The bears drilled their claws deeper into the NASD Over-the-Counter (OTC) Securities Exchange on Thursday, September 7, leaving the alternative bourse bleeding by 0.41 per cent at the close of business.
This squeezed N4.52 billion from the market capitalisation of the NASD bourse, closing at N1.108 trillion compared with the previous day’s N1.113 trillion, as the NASD Unlisted Securities Index (NSI) went down by 3.22 points to end the day at 791.39 points, in contrast to Wednesday’s 794.61 points.
The outcome was influenced by the N29.56 loss recorded by Aradel Holdings Plc, which closed at N461.00 per share compared to the midweek session’s N490.56 per share, and the 5 Kobo decline posted by Geo-Fluids Plc, which ended at N2.80 per unit versus the previous day’s N2.85 per unit.
However, Nipco Plc improved its value by N7.87 to trade at N86.52 per share versus N78.65 per share, Central Securities Clearing System (CSCS) Plc rose by 6 Kobo to close at N17.16 per unit compared with N17.10 per unit, Industrial and General Insurance (IGI) Plc jumped by 2 Kobo to sell at 21 Kobo per share compared with the earlier day’s 19 Kobo per share, and UBN Property Plc gained 1 Kobo to settle at N1.11 per unit versus N1.10 per unit.
During the trading day, the volume of trades increased by 914.5 per cent to 5.7 million units from 565,162 units, the value of shares went down by 42.4 per cent to N33.1 million from N57.5 million, and the number of deals decreased by 14.3 per cent to 12 deals from 30 deals.
Business Post reports that CSCS Plc was the most traded stock by volume (year-to-date) with 1.1 billion units worth N22.1 billion, followed by UBN Property Plc with 924.1 million units valued at N917.4 million, and Industrial and General Insurance (IGI) Plc with 646.5 units worth N52.4 million.
Also, CSCS Plc closed as the most traded stock by value (year-to-date) with 1.1 billion units valued at N22.1 billion, trailed by VFD Group with its 26.5 million units worth N5.9 billion, and Aradel Holdings Plc with 5.8 million units valued at N1.9 billion.
