NASD OTC Securities Exchange Slides 0.5%

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange closed the final trading day of the week in the negative territory as it fell 0.5 per cent drop on Friday, August 11.

The NASD market capitalisation, as a result, dropped N5.52 billion to close at N1.090 trillion, in contrast to the N1.095 trillion it quoted at the previous session.

Similarly, the NASD Unlisted Securities Index (NSI) depreciated by 3.99 points to end the day at 788.07 points as against 792.06 points it recorded at the previous session.

The fall witnessed by the NASD OTC Securities Exchange was instigated by a slump in the share price of Niger Delta Exploration and Production (NDEP) Plc.

The company lost N30.43 during the session to end the day at N389.57 per unit compared with the preceding session’s N420.00 per unit.

Yesterday, the bourse posted a decline in the volume of securities by 67.2 per cent as investors exchanged 79,287 units, in contrast to the 241,597 units traded a day earlier.

However, there was a jump in the value of shares traded at the bourse by 168.5 per cent to N30.6 million from the N11.4 million achieved on Thursday, as the number of deals remained unchanged at 12 deals.

The most traded stock by volume on a year-to-date basis was Central Securities Clearing System (CSCS) Plc with a turnover of 1.1 billion units valued at N21.2 billion, followed by Geo-Fluids with the sale of 631.0 units worth N1.1 billion, and Industrial and General Insurance (IGI) Plc with the sale of 610.7 million units valued at N48.4 million.

CSCS Plc also closed the trading session as the most traded stock by value on a year-to-date basis with a turnover of 1.1 billion units valued at N21.2 billion, VFD Group retained the second spot with 26.4 million units worth N5.9 billion, while FrieslandCampina Wamco Plc was in third place with 18.6 million units worth N1.3 billion.