NASD OTC Exchange Drops to N1.102trn
By Adedapo Adesanya
The value of the NASD Over-the-Counter (OTC) Securities Exchange sharply declined by 3.86 per cent on Thursday, September 28, after the shares of VFD Group Plc were taken out of the platform.
VFD Group, according to reports, is planning to trade its stocks on a larger platform, the Nigerian Exchange Limited (NGX).
The delisting of the company’s equities brought down the market capitalisation of the NASD OTC exchange by N44 billion to settle at N1.102 trillion compared with the N1.146 trillion it finished on Tuesday, the last trading session. The market was closed on Wednesday as a result of the public holiday declared by the federal government for Eid-el Maulud.
However, the NASD unlisted securities index (NSI) appreciated on Thursday by 0.21 per cent or 1.72 points to finish at 812.59 points compared with the preceding session’s 810.87 points.
This was influenced by the gains posted by three securities led by Nipco Plc, which appreciated by N8.48 to close at N95.00 per share versus N86.52 per share, UBN Property Plc rose by 8 Kobo to trade at N1.30 per unit compared with the preceding day’s N1.22 per unit, and Industrial and General Insurance (IGI) Plc rose by 2 Kobo to 27 Kobo per unit versus 25 Kobo per unit.
During the session, the trading volume went south by 47.5 per cent to 160,298 units from 303,770 units, the trading value slid by 54.9 per cent to N3.3 million from N7.3 million, while the number of deals grew by 10 per cent to 11 deals from 10 deals.
When trading activities ended yesterday, Central Securities Clearing System (CSCS) Plc remained the most traded stock by volume (year-to-date) for selling 1.1 billion units for N22.2 billion, followed by UBN Property Plc with 946.2 units worth N942.2 million and Geo-Fluids Plc with 667.3 million units valued at N1.2 billion.
Also, CSCS Plc was the most traded stock by value (year-to-date) after exchanging 1.1 billion units for N22.2 billion, followed by VFD Group with 26.6 million units worth N5.9 billion, and Aradel Holdings Plc with 6.2 million units valued at N2.2 billion.