By Adedapo Adesanya
It was a negative outcome for unlisted securities trading on the NASD Over-the-Counter (OTC) Securities Exchange on Friday, June 26.
At the final trading session for the week, the market capitalisation of the bourse fell by 0.86 percent or N4.5 billion to N516.41 billion from the closing value of N520.89 billion on Thursday.
The NASD Unlisted Security Index (NSI) also contracted during the session by 0.86 percent equivalent to 6.1 points to end the day at 703.01 points in contrast to 709.11 points it ended at the previous session.
It was observed that the contraction was caused by a drop in the share price of a bellwether, Central Securities Clearing System (CSCS) Plc. Shares of the securities depository company depreciated by 92 kobo to N13.05 per share from N13.97 per share it previously quoted.
Business Post reports that the loss printed by CSCS overpowered the gains posted by FrieslandCampina WAMCO Nigeria Plc. Stocks of the milk manufacturer appreciated by 12 kobo or 10 percent on Friday to N120 per share from N119.88 per share of the previous day.
Yesterday, there was a 147 percent rise in the total volume of securities traded by investors. A total of 41,350 units of securities were transacted in the session compared with Thursday’s 16,740 units of securities.
However, there was a 58.6 percent decline in the value of the trades as shares valued at N1.1 million exchanged hands in contrast to the previous day’s N2.7 million.
Equally, the number of deals executed by market participants depreciated by 28.6 percent or two deals as a total of five deals were carried out on Friday versus seven deals of Thursday.
These deals were from CSCS Plc (two deals), Niger Delta Exploration and Production (NDEP) Plc, FrieslandCampina WAMCO Nigeria Plc, and Afriland Properties Plc (one deal each).
ARM Life Plc closed the session as the most traded stock by volume (year-to-date) with 7.4 billion units of its shares traded for N4.6 billion, while CSCS Plc was in second place with 196.7 million units worth N2.6 billion, with Food Concept Plc in the third position for trading 110 million units of its shares worth N80.5 million.
The most active stock by value (year-to-date) was also ARM Life Plc. The insurer has traded 7.4 billion units of its shares worth N4.6 billion. It was trailed by CSCS Plc, which has traded 196.7 million units for N2.6 billion, and NDEP Plc, which has exchanged 7.9 million units of its securities valued at N2.4 million.
Dipo Olowookere