NASD OTC Bourse Extends Losing Streak to Third Trading Session
By Adedapo Adesanya
For the third trading session, the NASD Over-the-Counter (OTC) remained in the bearish zone after it depreciated by 0.53 per cent on Wednesday, June 1, driven by negative price movements from Niger Delta Exploration and Production (NDEP) Plc and Central Securities Clearing System (CSCS) Plc.
NDEP Plc made a N14 or 6.67 per cent loss to close at N196.00 per unit as against N210.00 per unit of the last session, while CSCS Plc saw depleted by 64 kobo or 3.77 per cent to close at N16.36 per unit compared with Tuesday’s closing price of N17.00 per unit.
This reduced the market capitalisation of the OTC bourse by N6 billion yesterday as it closed at N1.008 trillion in contrast to the previous day’s N1.014 trillion.
On its part, the NASD Unlisted Securities Index (NSI) lost 4.05 points to end the midweek session at 765.95 points compared with 770 points recorded in the previous session.
Business Post reports that the market was with a price gainer during the session and it was Food Concepts Plc, which appreciated by 7 kobo or 7.53 per cent to N1.00 per share from 93 kobo per share.
On the activity chart, there was a rise in the volume of securities traded at the bourse during the session by 520.9 per cent to 8.4 million units from 1.3 million units.
The value of shares traded yesterday also increased by 21.2 per cent to N21.6 million from N17.8 million, while the number of deals went up by 28.6 per cent to nine deals from the previous day’s seven deals.
AG Mortgage Plc remained the most traded stock by volume (year-to-date) with 2.3 billion units sold for N1.2 billion, followed by CSCS Plc with 662.5 million units valued at N13.9 billion, and Food Concepts Plc with 146.0 million units worth N126.7 million.
The most traded stock by value (year-to-date) was CSCS Plc with 662.5 million units exchanged for N13.9 billion, followed by VFD Group Plc with 9.6 million units sold for N2.9 billion, and AG Mortgage Bank Plc with 2.3 billion traded for N1.2 billion.