Over-the-Counter Stocks in Nigeria Slump 0.09%

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange closed the last trading session of this week on a bearish note, losing 0.09 per cent on Friday, August 5.

The outcome came after NASD Plc posted a loss of N1.76 or 9.8 per cent to close at N16.19 per unit in contrast to the previous session’s N17.95 per unit.

This consequently weakened the market capitalisation of over-the-counter stocks by N860 million from the N1.003 trillion it quoted at the previous session to N1.002 trillion.

In the same vein, the NASD Unlisted Securities Index (NSI) depreciated by o.65 points to end the day at 761.27 points as against the 761.92 points it recorded in the previous session.

During the session, there was a slide in the volume of securities traded by investors by 61.2 per cent to 463,214 units from 1.2 million units, the value of transactions went down by 97.7 per cent to N6.7 million from N289.4 million, while the number of deals appreciated by 14.3 per cent to eight deals from the seven deals carried out a day earlier.

AG Mortgage Bank Plc was the most traded stock by volume (year-to-date) with the sale of 2.3 billion units worth N1.2 billion, followed by Central Securities Clearing System (CSCS) Plc with the sale of 686.6 million units valued at N14.2 billion, and Food Concepts Plc with the sale of 146.8 million units valued at N127.5 million.

Also at the close of business, CSCS Plc was still the most traded stock by value (year-to-date) with a turnover of 686.6 million units worth N14.2 billion, trailed by VFD Group with the sale of 11.1 million units valued at N3.3 billion, and FrieslandCampina WAMCO Nigeria Plc with the sale of 13.9 billion units worth N1.7 billion.