NASD OTC Stock Market Witnesses 0.64% Depreciation

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange slumped by 0.64 per cent on Tuesday, August 15, affected by a weakening in the health of three admitted stocks on the trading platform.

FrieslandCampina Wamco Nigeria Plc led the price loser after it shed N1.91 to sell at N74.03 per unit versus Monday’s closing price of N75.94 per unit.

Central Securities Clearing System (CSCS) Plc depreciated by 50 Kobo to sell at N17.00 per share compared with the previous day’s N17.50 per share, and Food Concepts Plc made a 3 Kobo loss to close at 96 Kobo per share, in contrast to the preceding session’s 99 Kobo per share.

Consequently, the market capitalisation of the alternative bourse depleted by N7.06 billion to N1.087 trillion from N1.094 trillion, and the NASD Unlisted Securities Index (NSI) went down by 5.10 points to wrap the session at 785.95 points compared with 791.05 points recorded in the previous session.

A look at the level of activity at the NASD OTC stock market on Tuesday showed that the trading volume, value, and the number of deals decreased at the close of business.

The volume of transacted stocks decreased by 88.6 per cent to 2.7 million units from 23.7 million units, the value of shares traded went south by 92.9 per cent to N13.7 million from N195.1 million, and the number of deals went down by 29 per cent to 22 deals from 31 deals published on Monday.

Business Post reports that CSCS Plc remained the most traded stock by volume on a year-to-date basis with 1.1 billion units valued at N21.4 billion, Geo-Fluids followed with 631.0 units worth N1.1 billion, while Industrial and General Insurance (IGI) Plc was in third place with 628.3 million units valued at N49.7 million.

Similarly, CSCS Plc was the most traded stock by value on a year-to-date basis with 1.1 billion units worth N21.4 billion, VFD Group has traded 26.4 million units worth N5.9 billion to occupy the second position, and FrieslandCampino Wamco Nigeria Plc has exchanged 18.8 million units valued at N1.4 billion to maintain the third spot.