NASD OTC Exchange Depreciates by 1.89%

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange depreciated by 1.89 per cent on Tuesday, August 2 as a negative price movement from FrieslandCampina WAMCO Nigeria Plc drove the bourse into the red territory.

After the market closed flat on Monday, the milk producer closed the Tuesday session with a loss of N10 to settle at N94.50 per share compared with the previous day’s N104.50 per share.

This depleted the value of the NASD OTC exchange by N19.63 billion to close at N1.011 trillion compared with the previous day’s N1.031 trillion as the NASD Unlisted Securities Index (NSI) shed 14.91 points to wrap the session at 768.14 points compared with 783.05 points recorded in the previous session.

There was an improvement in the volume of securities traded at the bourse during the session as investors exchanged 10,182 units of securities, 57.5 per cent higher than the 6,643 units of securities traded in the preceding session.

The value of shares traded yesterday rose by 82.6 per cent as the total equities traded amounted to N1.2 million versus N673,596.00 made a day earlier.

These transactions were carried out in 11 deals, 120 per cent higher than the five deals carried out on Monday.

AG Mortgage Bank Plc finished the session as the most traded stock by volume on a year-to-date basis with a turnover of 2.3 billion units valued at N1.2 billion, Central Securities Clearing System (CSCS) Plc stood in second place with a turnover of 686.5 million units valued at N14.2 billion, while Food Concepts Plc was in third place with the sale of 146.5 million units valued at N127.2 million.

Conversely, CSCS Plc was the most traded stock by value on a year-to-date basis with the sale of 686.5 million units for N14.2 billion, VFD Group was in second place with the sale of 11.1 million units worth N3.3 billion, while FrieslandCampina WAMCO Nigeria Plc was in third place with the sale of 13.8 billion units valued at N1.7 billion.