OTC Stock Market Records 0.2% Decline in Midweek Session

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange slid by 0.2 per cent on Wednesday, February 22, with FrieslandCampina WAMCO Nigeria Plc losing N1 or 1.47 per cent to close the day at N67.00 per share compared with the previous closing price of N68.00 per share.

This erased the 6 Kobo or 4.00 per cent growth reported by Afriland Properties Plc, which closed the midweek session at N1.56 per unit, in contrast to Tuesday’s value of N1.50 per unit.

At the close of business, the total value of the OTC stock market decreased by N1.89 billion to N939.59 billion from the N941.47 billion it closed in the preceding session.

Following the same trend was the NASD Unlisted Securities Index (NSI), which went down by 1.42 points to wrap the session at 715.06 points compared with 716.48 points recorded in the previous session.

At the close of transactions, investors traded a total of 5.1 million units of securities, in contrast to the 30.0 million units of securities transacted in the preceding session, indicating a slump of 83.2 per cent.

The value of shares exchanged by the market participants went down by 75.0 per cent to N6.76 million compared to N27.1 million recorded in the previous session.

However, the total number of deals closed upward as nine transactions were executed, 125 per cent higher than the four deals completed on the preceding market day.

Geo-Fluids Plc remained the most traded stock by volume on a year-to-date basis with 339.8 million units valued at N337.6 million, UBN Property Plc stood in second place with 294.0 units worth N247.8 million, while VFD Group Plc was in third place with 6.2 million units valued at N1.4 billion.

Also, VFD Group Plc was the most traded stock by value (year-to-date) as it has traded 6.2 million units for N1.4 billion, Geo-Fluids Plc trailed with 339.8 million units worth N337.6 million, and UBN Property Plc was in third place with 294.0 million units valued at N247.8 million.