Nigeria Mortgage Refinance Company, Others Weaken NASD by 0.11%

September 25, 2021
Nigeria Mortgage Refinance Company

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) failed to sustain the growth for the fourth consecutive session on Friday as it depreciated by 0.11 per cent on the back of poor performance by four companies on the platform.

This weakened the NASD Unlisted Security Index (NSI) by 0.82 points to wrap the session at 742.70 points compared with 743.52 points recorded at the previous session.

It also dragged the market capitalisation of the exchange downwards by N700 million to N645.54 billion from N646.24 billion of the preceding trading day.

Business Post reports that the four declining stocks of yesterday were FrieslandCampina WAMCO Nigeria Plc, Nigeria Mortgage Refinance Company (NMRC) Plc, Nigerian Exchange (NGX) Group Plc and UBN Property Plc

Friesland lost N5 or 4.2 per cent to settle at N120 per share compared with Thursday’s N125 per share, while NMRC Plc depreciated by 58 kobo or 11.1 per cent to trade at N5.24 per unit versus the previous day’s N5.82 per unit.

In addition, NGX Group Plc went down by 23 kobo or 1.7 per cent to N13.36 per share from N13.59 per share, while UBN Property Plc fell by 9 kobo or 10 per cent to 90 kobo per unit from the previous closing price of 99 kobo per unit.

However, there were two price gainers at the trading session and they were Central Securities Clearing Systems (CSCS) Plc and NASD Plc, which has seen an uptrend lately.

CSCS Plc appreciated by 99 kobo or 5.82 per cent to settle at N17.99 per unit compared with N17.00 per unit it traded at the previous day, while NASD Plc gained 69 kobo or 6.62 per cent to sell for N11.11 per share in contrast to N10.42 per share of the last trading session.

Yesterday, the volume of securities transacted by investors rose by 121.9 per cent to 3.5 million units from the 1.6 million units of the preceding session, while the value of shares traded increased by 88.7 per cent to N53.9 million from N28.6 million, with the number of deals rising by 115.8 per cent to 41 deals from the 19 deals executed at the preceding session.

At the close of transactions, Geo Fluids Plc was the most active stock by volume (year-to-date) with 1.0 billion units of its shares traded for N700.1 million, followed by NGX Group Plc with 450.9 million units worth N9.1 billion, and Food Concepts Plc with 297.5 million units valued at N387.8 million.

In terms of value, NGX Group Plc was the most active stock on a year-to-date basis with the sale of 450.9 million units worth N9.1 billion. VFD Group Plc remained in the second spot with 10.4 million units of its securities valued at N3.5 billion, while the third spot was maintained by Friesland for selling 8.5 million units worth N1.1 billion.

Adedapo Adesanya

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

Leave a Reply

Nigeria Customs Service
Previous Story

Nigeria Customs Seeks Help to Combat Crime

Brent Price
Next Story

Brent Climbs Above $78 as Supply Tightens

Latest from Economy

Don't Miss