Over-the-Counter Stock Exchange Slides for Third Day Amid Surge in Trades

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange slumped for the third consecutive session by 0.33 per cent on Thursday, November 10, influenced by a drop in the price of FrieslandCampina WAMCO Nigeria Plc.

This further lowered the total value of the over-the-counter stock exchange by N3.09 billion yesterday to N939.50 billion from the N942.59 billion it closed in the preceding session.

In the same vein, the NASD Unlisted Securities Index (NSI) decreased by 2.35 points to wrap the session at 714.99 points compared with 717.34 points recorded in the previous session.

The share price of FrieslandCampina Wamco Nigeria Plc went down by N1.58 during the session to close at N66.42 per unit, in contrast to Wednesday’s N68.00 per unit.

Yesterday, there was a surge in the volume of securities traded at the bourse by 21,208.4 per cent to 234.9 million units from the 1.1 million units traded in the preceding session.

Also, the value of shares traded by the market participants swelled by 10,092.8 per cent to N139.1 million from the N1.4 million recorded in the midweek session.

These transactions were carried out in 11 deals compared to the eight deals executed a day earlier, indicating a 37.5 per cent jump.

AG Mortgage Bank Plc remained the most traded stock by volume on a year-to-date basis with a turnover of 2.3 billion units valued at N1.2 billion, Central Securities Clearing System (CSCS) Plc stood in second place with the sale of 687.8 million units worth N14.3 billion, while Lighthouse Financial Services Plc was in third place with 224.7 million units valued at N112.3 million.

In the same vein, CSCS Plc was the most traded stock by value on a year-to-date basis with the sale of 687.8 million units worth N14.3 billion, VFD Group Plc was in second place with 29.1 million units valued at N7.7 billion, while FrieslandCampina WAMCO Nigeria Plc was in third place with 15.6 million units valued at N1.8 billion.