Adedapo Adesanya
By Adedapo Adesanya
The 7 kobo decline recorded by the share price of Trustbond Mortgage Bank Plc led the NASD Over-the-Counter (OTC) Securities Exchange into the dungeon for another successive trading session.
Stocks of the mortgage bank, which closed on Tuesday at 70 kobo per unit, depreciated by 11.11 percent on Wednesday to settle at 63 kobo each.
This contributed to the 0.06 percent loss printed by the unlisted securities market and led to the 0.43 points depreciation suffered by the NASD Unlisted Security Index (NSI), which closed at 683.06 points against 683.49 points recorded at the previous session.
In the same vein, it influenced the depletion of the market capitalisation by N300 million to N501.77 billion from N502.07 billion quoted on Tuesday.
During yesterday’s market day, the total volume of securities traded fell by 82 percent, as only 5,100 securities were traded compared with 27,800 units on Tuesday.
Equally, the total value of transactions reduced to N15,150 from N2.25 million, indicating a drop by 99 percent.
Also, the number deals executed plunged by 50 percent or two deals. Only two deals were carried out yesterday compared with four deals on Tuesday. These deals were shared by Trustbond Mortgage Bank and FrieslandCampina WAMCO Nigeria Plc.
ARM Life Plc closed the session as the most traded equity by volume (year-to-date) with 7.4 billion units worth N4.6 billion. It was closely followed by Food Concept Plc, which traded 110.0 million units worth N77 million, while Central Securities Clearing System (CSCS) Plc held the third position with 17.3 million units valued at N199.4 million.
When the activity chart is viewed by the most active stock by value (year-to-date), ARM Life still maintained the top position with 7.4 billion units of its shares traded for N4.6 billion.
On the second spot was Niger Delta Exploration and Production (NDEP), which has transacted 6.4 million units for N1.99 billion, while FrieslandCampina WAMCO Nigeria has traded 1.9 million units of its securities valued at N238 million.
