Adedapo Adesanya
By Adedapo Adesanya
The NASD Over-the-counter (OTC) Securities Exchange recorded a 0.01 per cent fall on Friday, September 23, as it dropped for the fourth straight day. This further dampened investors’ confidence.
In the session, the bourse, which admits unlisted securities, recorded the decline following a loss recorded by Food Concepts Plc as the company saw its equity value drop 1 Kobo or 1.1 per cent to sell at 90 Kobo per unit versus the previous day’s 91 Kobo per unit.
As a result, the market capitalisation of the NASD OTC exchange went south by N60 million to close at N952.51 billion compared with Thursday’s N952.57 billion.
Also, the NASD Unlisted Securities Index (NSI) dropped 0.05 points to finish at 723.56 points, in contrast to the preceding session’s 723.61 points.
Friday’s market data revealed that there was a slump in the units of securities exchanged by investors by 4.4 per cent to 60,420 units from the 63,219 units traded a day earlier.
The value of securities traded amounted to N57,125.00, 99.3 per cent lower than the N8.4 million achieved a day earlier, while the number of deals carried out during the session went down by 28.57 per cent to five deals from the seven deals carried out on Thursday.
AG Mortgage Bank Plc finished the session as the most traded stock by volume on a year-to-date basis with the sale of 2.3 billion units worth N1.2 billion, Central Securities Clearing Systems (CSCS) Plc also retained the second spot with the sale of 687.6 million units valued at N14.3 billion, while Mixta Real Estate Plc was in third place for trading 178.1 million units valued at N313.4 million.
Also, CSCS Plc maintained its position as the most active stock by value on a year-to-date basis with a turnover of 687.6 million units valued at N14.3 billion, VFD Group Plc was in second place with 27.7 million units worth N7.4 billion, while FrieslandCampina WAMCO Nigeria Plc retained the third place with the sale of 14.3 million units valued at N1.7 billion.
