OTC Stock Exchange Extends Stay in Red Territory After 0.18% Loss

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange continued its stay in the troubled waters on Tuesday after it further plunged by 018 per cent.

The loss reported yesterday was triggered by the N12.04 decline in the share price of Niger Delta Exploration and Production (NDEP), closing at N175.00 per unit compared with Monday’s price of N187.04 per unit.

As a result, the market capitalisation of the OTC stock exchange depleted by N1.68 billion to close the day at N930.61 billion versus the preceding day’s N928.93 billion.

In the same vein, the NASD Unlisted Securities Index (NSI) lost 1.28 points to wrap the session at 708.22 points compared with 714.60 points in the previous session.

Business Post reports that the equity value of FrieslandCampina Wamco Nigeria Plc appreciated by 26 Kobo but the positive performance of the bellwether stock could not save the market. After the addition, the price closed at N65.20 per unit versus Monday’s value of N64.94 per unit.

The volume of shares traded by investors yesterday decreased by 95.6 per cent to 98,792 units from 2.2 million units, while the value of securities transacted by the market participants depreciated by 20.1 per cent to N10.4 million from N13.1 million, with the number of deals going down by 35.7 per cent to 18 deals from the 28 deals executed a day earlier.

UBN Property Plc remained the most traded stock by volume on a year-to-date basis with the sale of 4.3 million units worth N3.2 million, trailed by FrieslandCampina Wamco Nigeria Plc with 469,558 units valued at N31.3 million, and VFD Group Plc with 417,492 units worth N101.9 million.

With the sale of 417,492 units of securities worth N101.9 million, VFD Group Plc ended the trading session as the busiest stock on a year-to-date basis and was trailed by FrieslandCampina Wamco Nigeria Plc with 469,558 units valued at N31.3 million, and Nipco Plc with 107,398 units valued at N6.4 million.