Adedapo Adesanya
By Adedapo Adesanya
The major trading indices of the NASD Over-the-Counter (OTC) Securities Exchange closed mixed on Monday as Nigerian Exchange (NGX) Group Plc withdrew from the bourse ahead of its listing by introduction on the NGX Limited later this week.
During trading at the unlisted securities market yesterday, the NASD market capitalisation recorded a slump, while the NASD Security Index (NSI) appreciated at the close of transactions.
According to data obtained by Business Post, the total value of securities on the exchange declined by 4.57 per cent or N26.44 billion to N611.95 billion from N638.39 billion.
However, the NSI rose by 0.39 per cent or 6.22 points to wrap the session at 740.70 points compared with 734.48 points of the previous session.
The gain seen at the session was influenced by appreciation in the stock price of FrieslandCampina WAMCO Nigeria Plc.
The company, which produces Peak and Three Crowns milk, saw a 2.3 per cent or N2.80 increase in its stock value to N120.80 per share from N118 per share of the last trading session.
But the market witnessed a price decliner on Monday and this was NASD Plc, which dropped 76 kobo or 6.33 per cent to settle at N11.24 per unit in contrast to the previous N12.00 per unit.
During the session, there was a decrease in the volume of securities traded at the bourse as investors bought 285,650 units compared to the previous trading day’s 335,437 units, showing a 14.8 per cent decline.
However, the value of shares traded yesterday rose by 4.6 per cent to N5.1 million from N4.8 million, while the number of deals increased by 37.5 per cent to 11 deals from 8 deals of the earlier trading day.
Food Concepts Plc closed the session as the most traded stock by volume (year-to-date) with 11.4 billion units worth N14.4 billion, Geo Fluids Plc trailed with 1.0 billion units worth N700.1 million, while the third place, NGX Group has traded 456.5 million units worth N9.2 billion.
In terms of value, Food Concepts Plc also topped the chart with 11.4 billion units transacted for N14.4 billion, followed by NGX Group Plc with 456.5 million units valued at N9.2 billion, and VFD Group Plc with 10.4 million units worth N3.5 billion.
