Adedapo Adesanya
By Adedapo Adesanya
The bearish performance at the NASD Over-the-Counter (OTC) Securities Exchange extended for another day as the unlisted securities market depreciated by 1.23 per cent.
This was propelled by a negative price movement in the shares of Central Securities Clearing Systems (CSCS) Plc as it went down by N1.28 or 8 per cent to settle at N14.72 per share in contrast to N16 per share it closed at the previous session.
The loss recorded by CSCS outweighed the gains printed by FrieslandCampina WAMCO Nigeria Plc. The milk maker appreciated by 5 kobo to close at N121.19 per unit as against N121.14 per unit of the preceding day.
Business Post reports that the performance of CSCS reduced the NASD market capitalisation by N6.35 billion to close at N512.32 billion compared with N518.67 billion it quoted on Tuesday.
Likewise, the NASD Unlisted Security Index (NSI) declined at the midweek session by 8.86 points to settle at 714.01 points as against 722.87 points it finished at the previous session.
However, the daily market activity showed that the total number of shares transacted by investors rose by 7,087.9 per cent to 1.04 million units from 14,486 units of shares exchanged on Tuesday.
Following in the same pattern, the total value of shares transacted by traders rose, this time by 481.8 per cent to N19.7 million from N3.4 million exchanged at the last session.
The bourse, equally recorded a rise in the number of deals as nine deals were executed by market participants on three companies compared with six deals carried out a day before.
A breakdown showed that the deals were carried out on FrieslandCampina WAMCO Nigeria Plc (five deals), Central Securities Clearing Systems (CSCS) Plc (two deals) while the Niger Delta Exploration and Production (NDEP) Plc made a single deal.
At the close of business, UBN Property Plc remained as the company with the highest volume of stocks traded by investors on a year-to-date basis with the sale of 15.1 million units of its securities for N16.3 million. It was trailed by CSCS Plc with 2.4 million units of its securities valued at N37.0 million, and FrieslandCampina, which has traded 1.9 million units valued at N222.7 million.
However, FrieslandCampina was the company with the highest value of shares traded (year-to-date) with 1.9 million units worth N222.7 million. NDEP Plc has transacted 279,756 units worth N96.8 million, while CSCS Plc has exchanged 2.4 million units worth N37.0 million.
