NASD OTC Bourse Woes Continue, Further Loses 0.01%

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By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange closed the final session of the week in the negative territory as Afriland Properties Plc pulled down the bourse by 0.01 per cent on Friday, May 12.

The outcome yesterday meant that the unlisted securities market has shed weight for four straight sessions since Tuesday.

At the close of transactions on Friday, the market capitalisation of the NASD OTC bourse reduced by N140 million to N1.002 trillion from the N1.002 trillion recorded a day earlier, as the NASD Unlisted Securities Index (NSI) went down by 0.1 points to wrap the session at 724.26 points compared with 724.36 points of the previous session.

At the last session of the week, the stock price of Afriland Properties Plc slid by 10 Kobo to close at N2.40 per share, in contrast to Thursday’s closing price of N2.50 per share.

During the session, the volume of securities traded at the bourse decreased by 99.7 per cent as investors bought and sold 32,464 units compared to the previous trading day’s 11.1 million units.

Also, the value of shares transacted yesterday went down by 99.8 per cent to N188,237.60 from the N92.2 million traded a day earlier, while the number of deals declined by 71.4 per cent to four deals from the 14 deals carried out in the previous trading session.

Geo-Fluids Plc remained the most traded stock by volume (year-to-date) with 830.9 million units valued at N1.3 billion, Industrial and General Insurance (IGI) Plc stood in second place with 627.7 units worth N49.4 million, while UBN Property Plc was in third place with 390.9 million units valued at N332.0 million.

VFD Group Plc retained its spot as the most traded stock by value (year-to-date) for selling 10.4 million units worth N2.4 billion, Geo-Fluids Plc was second with 830.9 million units worth N1.3 billion, while FrieslandCampina Wamco Nigeria Plc was in third place with 5.9 million units valued at N417.0 million.

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