Nigeria’s Over-the-Counter Stock Exchange Loses 0.02%

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange recorded a marginal drop of 0.02 per cent on the last trading day of this week, Friday, June 30.

Upon the resumption of the market yesterday, following Wednesday and Thursday’s hiatus due to the Eid-el-Kabir holiday, the OTC stock exchange witnessed a significant increase in trading activities.

The volume of securities traded at the bourse during the session surged by 24,638.3 per cent to 1.08 billion units from the 4.4 million units transacted in the preceding session.

Also, the value of shares traded at the session rose by 4,045.5 per cent to N21.1 billion from the N509.0 million posted on Tuesday, as the number of deals increased by 30 per cent to 26 deals from the 20 deals carried out in the previous trading session.

However, the NASD Unlisted Securities Index (NSI) dropped 0.21 points to wrap the session at 752.03 points compared with 752.24 points in the previous session, while a total of N290 million was sliced from the market capitalisation of the bourse, closing at N1.040 trillion, in contrast to Tuesday’s closing value of N1.041 trillion.

The day’s single price loser was NASD Plc, and it fell by N1.55 to close at N13.95 per unit compared with its previous closing value of N15.50 per unit.

But Niger Delta Exploration and Production (NDEP) Plc appreciated by 37 Kobo to end the day at N275.50 per share versus N275.13 per share, FrieslandCampina Wamco Nigeria Plc gained 6 Kobo to trade at N69.98 per unit versus N69.92 per unit, and UBN Property Plc chalked up 5 Kobo to sell at N1.00 per share versus 95 Kobo per share.

Yesterday, Central Securities Clearing System (CSCS) Plc took over the activity chart when it finished as the most traded stock by volume (year-to-date) with the sale of 2.2 billion units valued at N42.3 billion, followed by Geo-Fluids Plc with 842.5 million units valued at N1.3 billion, and Industrial and General Insurance (IGI) Plc with 630.1 units worth N49.6 million.

Also, CSCS Plc finished as the most traded stock by value (year-to-date) with 2.2 billion units worth N42.3 billion, followed by VFD Group Plc with 19.4 million units valued at N4.4 billion, and Geo-Fluids Plc with 842.5 million units worth N1.3 billion.