By Adedapo Adesanya
The index of the NASD Over-the-Counter (OTC) Securities Exchange closed below 700 basis points on Tuesday after it depreciated by 1.04 per cent or 7.34 points at the close of transactions to 698.23 points from 705.57 points.
This was due to the fall in the share price of FrieslandCampina Wamco Nigeria Plc and Central Securities Clearing Systems (CSCS) Plc yesterday, weakening the market capitalisation of the NASD OTC by N9.65 billion to N917.48 billion from N927.13 billion.
FrieslandCampina lost N3.92 during the session to settle at N63.08 per unit compared with the preceding day’s N67.00 per unit, and CSCS Plc dropped 40 Kobo to trade at N12.20 per share as against Monday’s value of N12.60 per share.
Data showed that the volume of securities traded at the bourse yesterday dipped by 93.8 per cent as investors exchanged 168,050 units of securities, in contrast to the 2.7 million units of securities transacted by market participants in the preceding session.
However, the value of shares traded at the unlisted securities market went up by 272.4 per cent to N9.4 million from the N2.5 million achieved a day earlier.
In the same vein, the number of deals executed by traders during the session increased by 150 per cent to 25 deals from the 10 deals carried out on Monday.
At the close of transactions, VFD Group Plc was the busiest stock by value on a year-to-date basis with a turnover of 417,492 units valued at N101.9 million, followed by FrieslandCampina Wamco Nigeria Plc with the sale of 668,306 units worth N44.1 million, and Niger Delta Exploration and Production (NDEP) Plc with the sale of 91,000 units valued at N15.9 million.
The most traded stock by volume on a year-to-date basis, on the other hand, was Geo Fluids Plc, as it has traded 20.4 million units worth N15.5 million. UBN Property Plc was in second place with 9.0 units valued at N6.5 million, while FrieslandCampina Wamco Nigeria was in third place for selling 668,306 units valued at N44.1 million.
