By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange on Wednesday, December 2 further bled after it depreciated by 1.41 per cent.
It was the third consecutive loss it was recording as investors are struggling to have confidence in the market, especially because of the economic crisis in the country.
During the midweek session, the market capitalisation of the bourse slumped by N7.64 billion to close at N534.86 billion compared to N542.50 billion it ended on Tuesday.
Equally, the NASD Unlisted Security Index (NSI) also depreciated by 10.28 points to close at 719.57 points as against 729.85 points it finished at the previous session.
Of all the 41 securities admitted on the exchange, only two recorded price movements yesterday; FrieslandCampina WAMCO Nigeria Plc and Niger Delta Exploration and Production (NDEP) Plc.
While FrieslandCampina WAMCO Nigeria Plc stayed on the losers’ side after its share price went down by N7.97 or 5.7 per cent to close at N132.03 per unit versus N140 per unit it traded previously, NDEP was on the gainers’ side due to the 76 kobo or 0.25 per cent it added to its share value to close at N300.76 per unit as against N300 per unit it was sold at the Tuesday session.
At the market yesterday, the total volume of securities transacted at the session increased by 547.9 per cent to 579,945 units from the last session’s 89,500 units, while the value of the trades rose by 378.2 per cent to N86.1 million from N17.9 million.
It was observed that the transactions recorded on Wednesday were executed in 12 deals, 20 per cent higher than the 10 deals achieved on Tuesday.
Business Post reports that NDEP Plc accounted for eight deals, FrieslandCampina WAMCO Nigeria Plc accounted for three deals, while Central Securities Clearing Systems (CSCS) Plc accounted for one deal.
ARM Life Plc remained as the company with the most traded stock by volume (year-to-date) with 7.4 billion units of its shares worth N4.6 billion. CSCS Plc was in second place with 204.6 million units worth N2.7 billion, while Food Concepts Plc held the third position with 152.1 million units of its shares worth N109.4 million.
ARM Life Plc was also the company with the most traded stock by value (year-to-date) with 7.4 billion units traded for N4.6 billion, while NDEP Plc followed for trading 11.8 million units worth N3.6 billion, with CSCS Plc transacting 204.6 million units valued at N2.7 billion.
