NASD OTC Index Drops 1.15% on CSCS, FrieslandCampina Sell-Offs

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange slid by 1.15 per cent on Wednesday, September 16, triggered by losses in the stock prices of Central Securities and Clearing System (CSCS) Plc and FrieslandCampina Wamco Nigeria Plc, erasing the 90 Kobo gained by NASD Plc, which closed at N34.20 per unit compared with the previous session’s N33.30 per unit.

At midweek, CSCS Plc lost 4.2 per cent or N4.62 to end at N105.00 per share compared with Tuesday’s closing price of N106.92 per share, and FrieslandCampina Wamco Nigeria Plc declined by N2.94 or N5.00 to close at N165.00 per unit versus N170.00 per unit.

Consequently, the bourse’s market capitalisation dropped by N31.44 billion to N2.702 trillion from N2.734 trillion, and the NASD Security Index (NSI) decreased by 52.43 points to 4,503.11 points from 4,555.54 points.

Yesterday, the volume of securities stood at 42,765 units, with the value at N2.37 million, all executed in nine deals.

At the close of business, Great Nigeria Insurance (GNI) Plc remained the most active stock by value on a year-to-date basis, with 3.4 billion units valued at N8.4 billion, trailed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units exchanged for N6.5 billion, and CSCS Plc with 81.8 million units worth N6.0 billion.

GNI Plc also finished the session as the most traded stock by volume on a year-to-date basis, with 3.4 billion units transacted for N8.4 billion, followed by Infracredit Plc with 2.3 billion units traded for N6.5 billion, and Resourcery Plc with 1.1 billion units sold for N415.7 million.