By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange found itself in the dungeon on Wednesday after the Central Securities Clearing System (CSCS) Plc sank it by 0.24 per cent.
Shares of the Nigerian security depository company went down by 86 kobo or 5.56 per cent to N14.60 per unit from the previous day’s value of N15.46 per unit.
It suppressed the gains recorded by the Niger Delta Exploration and Production (NDEP) Plc and NASD Plc as the former appreciated by N13.54 or 7.52 per cent to N193.00 per share from N180.00 per share, while the latter rose by 5 kobo or 0.33 per cent to N15.05 per unit from N15.00 per unit.
When the exchange closed for the day, the market capitalisation was down by N2.45 billion to N1.009 trillion from N1.011 trillion, while the NASD Unlisted Securities Index (NSI) decreased by 1.85 points to wrap the session at 766.89 points compared with the 768.74 points recorded in the previous session.
Despite the bearish outcome, the level of activity improved at the midweek session as the volume of securities increased by 76.8 per cent to 589,000 units from 333,175 units, the value of shares transacted by market participants rose by 174.2 per cent to N11.5 million from N4.2 million, while the number of deals appreciated by 40 per cent to 14 deals from the previous day’s 10 deals.
AG Mortgage Bank Plc remained the most traded stock by volume on a year-to-date basis with the sale of 2.3 billion units valued at N1.2 billion, CSCS Plc trailed with the sale of 673.9 million units worth N14.1 billion, while Food Concepts Plc was in third place with the sale of 146.0 million units valued at N126.7 million.
Also, CSCS Plc closed the trading session as the most traded stock by value on a year-to-date basis with the sale of 673.9 million units worth N14.1 billion, VFD Group was in second place with a turnover of 10.9 million units worth N3.2 billion, while FrieslandCampina WAMCO Nigeria Plc has traded 9.6 billion units valued at N1.2 billion.
Modupe Gbadeyanka