NASD OTC Exchange Drops 0.44%

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange dipped by 0.44 per cent on Tuesday, January 27, with the market capitalisation declining by N9.70 billion to N2.174 trillion from N2.184 trillion, and the NASD Unlisted Security Index (NSI) falling by 16.21 points to 3,634.73 points from 3,650.94 points.

The bourse was under pressure from two securities, which lost weight, overpowering the gains recorded by three securities.

Business Post reports that FrieslandCampina Wamco Nigeria Plc lost N5.70 to sell at N64.00 per share compared with Monday’s price of N69.70 per share and Central Securities Clearing System (CSCS) Plc dropped 17 Kobo to close at N40.50 per unit, in contrast to the preceding day’s N40.67 per unit.

On the flip side, Air Liquide Plc added N1.69 to settle at N18.63 per share versus the previous session’s N16.94 per share, UBN Property Plc appreciated by 20 Kobo to N2.20 per unit from N2.00 per unit, and Industrial and General Insurance (IGI) Plc gained 6 Kobo to trade at 69 Kobo per share versus 63 Kobo per share.

During the session, the volume of securities traded by investors fell further by 80.9 per cent to 1.3 million units from 6.8 million units, the value of securities went down by 57.3 per cent to N57.3 million from N156.7 million, and the total number of deals shrank by 13.6 per cent to 38 deals from 44 deals.

At the close of business, CSCS Plc was the most traded stock by value on a year-to-date basis with 14.4 million units traded for N586.1 million, the second spot was occupied by FrieslandCampina Wamco Nigeria Plc with 1.6 million units worth N107.9 million, and the third spot was taken by MRS Oil Plc with 297,101 units valued at N59.3 million.

CSCS  Plc also ended as the most active stock by volume on a year-to-date basis with 14.4 million units valued at N586.1 million, followed by Geo-Fluids Plc with 1.6 million units worth N107.9 million, and Mass Telecom Innovation Plc with 6.4 million units sold for N2.6 million.