Adedapo Adesanya
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange fell for the second day on Thursday by a marginal 0.06 percent.
The contraction reported at the bourse yesterday reduced the NASD unlisted securities index (NSI) by 0.42 points to 708.82 points from the preceding day’s 709.24 points.
Equally, it shortened the market capitalisation by N300 million, leaving the total value of stocks at the OTC market at N520.68 billion as against N520.98 billion it ended the previous day.
Business Post observed that the decline suffered by the bourse on Thursday was buoyed by the selloff in shares of Afriland Properties Plc.
According to data from the NASD OTC Exchange, the value of Afriland Properties stocks went down by 11.1 percent or 22 kobo to N1.98 per share from N2.20 per share it closed on Wednesday. Only the company recorded a price movement during the trading session.
Yesterday, the volume of securities transacted by investors at the NASD Exchange declined by 55.9 percent as a total of 10,230 shares exchanged hands compared with the 23,182 units recorded at the previous session.
These trades were done in three deals, compared with the previous day’s six deals, indicating a 50 percent depreciation. The three deals of yesterday were from stocks belonging to FrieslandCampina WAMCO Nigeria Plc, Fan Milk Plc, and the day’s decliner, Afriland Properties Plc.
The total worth of the transactions carried out by market participants on Thursday stood at N34,890, 98.7 percent lower than Wednesday’s N2.7 million.
A breakdown of yesterday’s trades showed that Afriland Plc accounted for N19,800, FrieslandCampina WAMCO Nigeria Plc accounted for N12,490, while Fan Milk Plc contributed N2,600 to the total transactions value.
At the close of business, ARM Life Plc maintained its position as the most traded stock by volume (year-to-date) with 7.4 billion units of its shares traded for N4.6 billion. Central Securities Clearing Systems Plc (CSCS) Plc was in second place with 196.7 million units traded at N2.6 billion, while Food Concept Plc followed in third place with 115 million units traded at N80.5 million.
In terms of the value of trades (year-to-date), ARM Life Plc still retained the top position with a total of 7.4 billion units of its stocks traded for N4.6 billion. CSCS Plc came in second place with 196.7 million units valued at N2.6 billion, while Niger Delta Exploration and Production (NDEP) Plc followed in the third spot with 7.9 million units worth N2.4 billion.
