NASD Investors Lose N4bn as Index Slides 0.42%

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Image Credit: NASD Twitter

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange slumped by 0.42 per cent on Tuesday, October 11, as Central Securities Clearing System (CSCS) Plc closed the first trading session after the Id el Maulud holiday bearish.

CSCS Plc went down by 80 Kobo or 5.7 per cent to settle at N13.20 per share in contrast to N14.00 per share of the preceding session.

As a result, NASD investors lost N4 billion at the close of transactions yesterday as the market capitalisation of the bourse finished at N954.33 billion compared with last Friday’s value of N958.33 billion.

In the same vein, the NASD Unlisted Securities Index (NSI) decreased by 3.04 points during the session to finish at 724.94 points compared with the 727.63 points it ended in the previous session.

A look at the activity chart showed that there was a dive in the volume of securities traded at the bourse yesterday. This was because the volume of shares went down by 79.9 per cent to 98,969 units from 494,695 units.

Equally, the value of shares traded yesterday slumped by 71.8 per cent to N22.9 million from the N81.4 million made in the preceding trading day, while the number of deals depreciated by 40 per cent to six deals from the 10 deals carried out last Friday.

When the market session ended, AG Mortgage Bank Plc maintained its position as the most traded stock by volume on a year-to-date basis with the sale of 2.3 billion units of its stocks valued at N1.2 billion. CSCS Plc stood in second place with 687.7 million units valued at N14.3 billion, and Mixta Real Estate Plc was in third place with 178.1 million units valued at N313.4 million.

The most traded stock by value on a year-to-date basis was still CSCS Plc with the sale of 687.7 million units worth N14.3 billion, followed by VFD Group Plc with 27.9 million units worth N7.4 billion, and FrieslandCampina WAMCO Nigeria Plc with 14.4 million units valued at N1.7 billion.

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