Nigeria’s OTC Stock Exchange Dips 0.63% in Midweek Trading Session

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange closed the midweek session in the negative territory after it dropped 0.63 per cent on Wednesday, January 10.

The NASD market capitalisation, as a result of this outcome, fell by N8.26 billion, closing the day at N1.294 trillion compared with Tuesday’s closing value of N1.302 trillion.

In the same vein, the NASD Unlisted Security Index (NSI) depreciated yesterday by 6.09 points to end the day at 954.67 points as against the 960.76 points it recorded in the previous session.

Central Securities Clearing System (CSCS) Plc and FrieslandCampina WAMCO Nigeria Plc ended the day as price losers, while UBN Property Plc and Industrial and General Insurance (IGI) Plc were the price gainers.

CSCS Plc lost N1.32 during the trading day to settle at N18.64 per unit compared to the N19.96 per unit it traded a day earlier, and FrieslandCampina Wamco Plc declined by N1.21 to close at N80.79 per unit versus Tuesday’s price of N82.00 per unit.

On the flip side, UBN Property Plc gained 10 Kobo to sell at N1.85 per share versus the previous session’s N1.75 per share, and IGI Plc appreciated by 1 Kobo to end at 28 Kobo per share versus the previous day’s 27 Kobo per share.

There was a 96.9 per cent slump in the volume of securities traded in the session as investors exchanged 922,447 units, in contrast to the 30.6 million units transacted a day earlier.

Equally, there was a 92.9 per cent decline in the value of shares transacted at the bourse to N8.3 million from N117.6 million, while the number of deals rose by 56.7 per cent to 47 deals from 30 deals.

UBN Property Plc closed as the most traded stock by volume (year-to-date) with 24.3 million units sold for N42.5 million, trailed by Geo-Fluids with 20.0 million units worth N48.0 million, and Purple Real Estate with 5.5 million units valued at N28.8 million.

However, Aradel Plc finished as the most traded stock by value (year-to-date) with 257,194 units valued at N306.6 million, followed by Geo-Fluids Plc with 20.0 million units sold for N48.0 billion, and UBN Property Plc with 24.3 million units worth N42.5 million.