NASD Drags Unlisted Securities Exchange Down by 0.06%

By Adedapo Adesanya

NASD Plc dragged the NASD Over-the-Course (OTC) Securities Exchange down by 0.06 per cent on Friday, February 11 after its value declined by 93 kobo or 11.0 per cent to trade at N8.43 per unit compared with the previous trading value of N9.36 per unit.

As a result of this, the NASD unlisted securities index (NSI) depleted by 0.48 points to 751.43 points from 751.91 points, while the market capitalisation dwindled by N410 million billion to wrap the day at N636.29 billion from N636.7 billion.

Business Post reports that the session saw a price gainer and this was Niger Delta Exploration and Production (NDEP) Plc, which grew by 5 kobo or 0.02 per cent to settle for the day at N235.00 per unit in contrast to N234.95 per unit.

During the session, the trading volume at the unlisted securities exchange fell by 81.1 per cent as a total of 65,689 units of shares exchanged hands compared with the 346,666 units transacted on Thursday.

At the close of business, the trading value dipped by 55.5 per cent to N3.7 million from the previous session’s N8.4 million, while the number of deals increased by 175 per cent as 11 deals were carried out compared to the four deals executed at the previous session.

Just like the previous session, Central Securities Clearing Systems (CSCS) Plc was the most traded stock by volume on a year-to-date basis with a turnover of 654.3 million units valued at N13.7 billion. NASD Plc followed with the sale of 3.5 million units valued at N54.7 million, while Food Concepts Plc has so far traded 2.0 million units worth N1.6 million.

Also, CSCS Plc was the most traded stock by value on a year-to-date basis with the sale of 653.9 million units valued at N13.7 billion, VFD Group Plc has transacted 916,161 units worth N331.5 million, while FrieslandCampina WAMCO Nigeria Plc has exchanged 1.9 units for N243.4 million.