Adedapo Adesanya
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange suffered a heavy defeat on Tuesday, September 6 as its value went below N1 trillion at the close of business.
This was caused by the decline in the share price of FrieslandCampina WAMCO Nigeria Plc, weakening the OTC securities exchange by 1.26 per cent when trading activities ended.
The share price of FrieslandCampina WAMCO Nigeria Plc went down by N6.50 or 6.99 per cent to settle at N86.50 per unit versus Monday’s closing price of N93.00 per unit.
As a result, the market capitalisation of the bourse went south by N12.69 billion to N990.58 billion from N1.003 trillion, while the NASD Unlisted Securities Index (NSI) decreased by 9.64 points to close at 752.48 points in contrast to the 762.12 points it ended in the previous session.
Tuesday’s market data revealed that there was a slump in the units of securities exchanged among investors by 39.6 per cent to 10,274 units from 17,000 units.
The value of securities traded by the market participants also went down by 19.7 per cent to N1.6 million from N2.0 million, while the number of trades depreciated by 20 per cent to four deals from the five deals traded a day earlier.
On a year-to-date basis, AG Mortgage Bank Plc was the most traded stock by volume with the sale of 2.3 billion units worth N1.2 billion, Central Securities Clearing System (CSCS) Plc trailed with 686.6 million units valued at N14.2 billion, while Food Concepts Plc was in third place for trading 147.8 million units valued at N128.4 million.
CSCS Plc maintained its position as the most active stock by value on a year-to-date basis with a turnover of 686.6 million units valued at N14.2 billion, VFD Group Plc was in second place with 24.5 million units worth N6.6 billion, while FrieslandCampina WAMCO Nigeria Plc retained the third place with the sale of 14.1 million units valued at N1.7 billion.
