Nigeria’s Alternative Stock Exchange Drops 0.02%

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By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange recorded a 0.02 per cent decline on Monday, March 6, on the back of a fall in the share price of First Trust Mortgage Bank.

The stock price of First Trust Mortgage Bank Plc at Nigeria’s alternative stock exchange went down by 5 Kobo during the session to settle at 52 Kobo per unit, in contrast to the previous session’s 57 Kobo per unit.

This trimmed the market capitalisation of the bourse by N230 million at the close of business to N952.41 billion from the N952.64 billion it closed last Friday.

As a result, the NASD Unlisted Securities Index (NSI) decreased by 0.18 points yesterday to wrap the session at 724.81 points compared with 724.99 points of the previous session.

Data harvested by Business Post showed that First Mortgage Bank traded 100,000 units of its stocks worth N52,000 at the market on Monday, as Newrest ASL transacted 98,400 shares worth N1.082 million, with Niger Delta Exploration & Production (NDEP) Plc selling 50 units valued at N43.

At the close of trades, a total of 198,450 securities worth N1.13 million exchanged hands in four deals compared with the 544,861 securities worth N5.2 million transacted in 16 deals in the preceding session, representing a decline in the trading volume, value and the number of deals by 63.6 per cent, 78.4 per cent, and 75 per cent, respectively.

On a year-to-date basis, Geo-Fluids was the most traded stock by volume with 344.8 million units worth N343.7 million, UBN Property Plc was in second place with 324.8 million units valued at N274.3 million, while VFD Group Plc was in third place with 7.2 million units valued at N1.6 billion.

VFD Group Plc also maintained its apex position as the most active stock by value on a year-to-date basis with 7.2 million units sold for N1.6 billion, Geo-Fluids Plc was in second place for trading 344.8 million units for N343.7 million, and UBN Property Plc came next with 324.8 million units valued at N274.3 billion.

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