NASD OTC Exchange Opens Week with 0.54% Loss

NASD OTC Securities Exchange

By Adedapo Adesanya

The week opened with a depreciation at the NASD Over-the-Counter (OTC) Securities Exchange on Monday, July 27.

The market fell yesterday 0.54 per cent and this was majorly spurred by losses faced by three of the market’s big stocks.

The day saw price changes across five securities, but Afriland Property Plc, FrieslandCampina WAMCO Nigeria Plc, and Niger Delta Exploration and Production (NDEP) Plc were the laggards.

NDEP Plc led the chart of losers with a 5.4 per cent contraction amounting to N16.65 to close at N290 per share from N306.65 per share. Friesland dropped 33 kobo or 0.3 per cent to close at N120.82 per share compared to N121.15 per share while Afriland Properties Plc fell by 2 kobo or 0.9 per cent from N2.20 per share to N2.18 per share.

On the other hand, Central Securities Clearing Systems (CSCS) Plc and UBN Property Plc ended the session as the day’s gainers.

CSCS Plc saw a price gain of 7 kobo or 0.9 per cent to close at N14.07 per share from N14 per share it closed at the previous session, while UBN Property Plc moved up by 4 kobo or 2.9 per cent to close at N1.44 per share from N1.40 per share it ended at the preceding session.

At the end of the day’s trading, the NASD unlisted securities index (NSI) moved down 0.54 per cent or 3.81 points to 702.71 points from 706.52 points recorded at last Friday’s session, while the market capitalisation closed at N516.19 billion, N2.8 billion or 0.54 per cent lower than previous closing capitalisation of N518.99 billion.

The session saw a total volume of 1.1 million shares transacted from 16 deals during the session at the exchange. These deals were executed on CSCS Plc, seven deals; FrieslandCampina Plc with five deals; NDEP Plc and Afriland Properties, two deals each; and UBN Properties with a single deal.

These deals amounted to N33.6 million compared with the previous session’s N852,438.50.

On Monday, ARM Life Plc remained as the most traded stock by volume (year-to-date) with 7.4 billion units of its shares worth N4.6 billion. CSCS Plc was in second place with 199 million units traded at N2.7 billion, while Food Concept Plc followed with 125 million units traded at N88 million.

In terms of value of trades (year-to-date), ARM Life Plc still retained the top with a total of 7.4 billion units worth N4.6 billion. CSCS Plc came in second place with 199 million units valued at N2.7 billion, while NDEP Plc has traded 8.4 million units worth N2.6 billion.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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