Adedapo Adesanya
By Adedapo Adesanya
The bears extended their presence on the floor of the NASD Over-the-Counter (OTC) Securities Exchange for a second consecutive day by 0.29 per cent.
This weakened the market capitalisation of the exchange by N1.58 billion to N541.90 billion from N543.48 billion and depressed the NASD Unlisted Security Index (NSI) by 2.23 points to 762.37 points from 764.60 points.
The day’s woeful performance was caused by the decline in the prices of Nigerian Exchange (NGX) Group Plc, FrieslandCampina WAMCO Nigeria Plc and Central Securities Clearing Systems (CSCS) Plc.
The NGX Group depreciated by 10 per cent or N1.98 to wrap the day at N17.89 per share compared with the previous N19.87 per share, while Friesland lost 0.8 per cent or N1 to close at N130.93 per unit versus N131.93 per unit it traded on Monday, with CSCS losing 0.9 per cent or 14 kobo to settle at N15.11 per share as against the previous N15.25 per share.
But there was a price gainer and it was Nipco Plc, which appreciated by 0.7 per cent or 50 kobo to finish at N69 per unit in contrast to N68.50 per unit of the preceding day.
On the activity chart, the volume of securities traded at the bourse on Tuesday increased by 105.0 per cent to 28.0 million units from the 13.7 million units of securities transacted by market participants on Monday.
Likewise, there was a rise in the value of shares traded yesterday by 40.2 per cent to N464.2 million from N331.2 million, while the number of deals dropped by 18.8 per cent to 52 deals from 64 deals.
These deals were made on the six companies led by the NGX Group with 38 deals, CSCS with six deals, Niger Delta Exploration and Production (NDEP) Plc with four deals, Friesland with two deals and UBN Property Plc and Nipco Plc with one deal each.
NGX Group closed the session as the most active stock by volume (year-to-date) with 34.1 million units of its shares worth N687.8 million. CSCS Plc was in second place with 24.5 million units worth N388.5 million, while UBN Property Plc held the third position with 21.9 million units of its shares worth N24.6 million.
In terms of value (year-to-date), NDEP Plc topped the chart with 2.3 million units worth N703.5 million, followed by NGX Group with 34.1 million units valued at N687.8 million and Friesland with 4.1 million units valued at N512.4 million.
