By Adedapo Adesanya
The bears remained on the floor of the NASD Over-the-Counter (OTC) Securities Exchange on Tuesday after the alternative bourse closed lower by 0.46 per cent.
The unlisted securities market was dragged down yesterday by Niger Delta Exploration and Production (NDEP) Plc and Central Securities Clearing Systems (CSCS) Plc.
NDEP Plc recorded a N20 or 11.1 per cent loss to close at N180.00 per unit as against N200.00 per unit, while CSCS Plc recorded a 5 kobo or 0.3 per cent decline to close at N17.50 per share versus N17.55 per share of the preceding day.
However, the NASD Exchange recorded two price gainers during the session but they could not rescue the market from the claws of the bears.
NASD Plc appreciated yesterday by N1 or 8.7 per cent to close the session at N11.45 per unit compared with the previous day’s N10.45 per unit, while UBN Property Plc improved its value by 11 kobo or 8.7 per cent to trade at N1.26 per share in contrast to N1.15 per share it finished on Monday.
As the close of transactions, the NASD unlisted securities index (NSI) depreciated by 3.33 points to 713.06 points from 716.39 points, while the market capitalisation lost N2.81 billion to wrap the day at N606.62 billion in contrast to N603.81 billion.
Despite the loss, the trading volume surged by 2,285.9 per cent as a total of 2.6 million units of shares exchanged hands compared with the 107,515 units transacted on Monday.
At the close of business, the trading value jumped by 494.5 per cent to N44.7 million from the previous day’s N7.5 million, while the number of deals increased by 100 per cent to 18 deals from the nine deals recorded at the previous session.
CSCS Plc remained as the most traded security by volume on a year-to-date basis with 658.5 million units valued at N13.8 billion, trailed by NASD Plc came with 32.4 million units valued at N321.0 million, and AG Mortgage Bank Plc with 32.0 million units valued at N16.7 million.
CSCS Plc was also the most traded security by value on a year-to-date basis with 658.5 million units worth N13.8 billion, trailed by VFD Group Plc with 916,161 units worth N331.5 million and NASD Plc with 32.4 million units traded for N321.0 million.
