Nigeria’s OTC Stock Market Witnesses 0.04% Depreciation

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange recorded a marginal drop of 0.04 per cent on Monday, September 18, with the market capitalisation depreciating during the session by N510 million to N1.137 trillion from the N1.138 trillion it closed last Friday.

Also, the NASD Unlisted Securities Index (NSI) went down yesterday by 0.36 points to wrap the session at 805.29 points compared with the 805.65 points recorded in the previous session.

Yesterday, Nigeria’s OTC stock market had a price loser, and it was FrieslandCampina Wamco Nigeria Plc, which lost N1.91 to sell at N74.03 per unit versus last Friday’s value of N75.94 per unit.

The bourse also witnessed a price gainer, and it was Industrial and General Insurance (IGI) Plc, which improved its value by 2 Kobo to settle at 25 Kobo per share, in contrast to the previous trading session’s 23 Kobo per share.

The unlisted securities bourse also reported declines in the level of transactions as the trading volume and value dropped at the close of business, while the number of deals increased.

The volume of transacted stocks decreased by 74.5 per cent to 505,757 units from 1.9 million units traded in the preceding session, the value of shares traded went south by 34.5 per cent to N6.9 million from N10.7 million, while the number of deals went up by 31.3 per cent to 21 deals from 16 deals published last Friday.

At the close of business, Central Securities Clearing System (CSCS) Plc was the most traded stock by volume on a year-to-date basis with 1.1 billion units for N22.2 billion, UBN Property Plc was in second place with 924.2 million units valued at N917.5 million, and IGI Plc stood in third place with 647.5 units worth N52.6 million.

Also, CSCS Plc ended the trading session as the most traded stock by value on a year-to-date basis with 1.1 billion units worth N22.2billion, VFD Group was in second position with 26.5 million units valued at N5.9 billion, and Aradel Holdings Plc was in third place with 6.0 million units worth N2.1 billion.