Unlisted OTC Stock Market Drops 0.19% at Midweek

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange recorded a 0.19 per cent depreciation on Wednesday, May 10.

This resulted in the decline in the market capitalisation of the unlisted OTC stock market by N1.95 billion during the session to N1.004 trillion from N1.006 trillion.

In the same vein, the NASD Unlisted Securities Index (NSI) lost 1.41 points when trading activities were closed for the day, finishing at 726.35 points compared with the 727.76 points recorded in the previous session.

The poor performance of the exchange was influenced by the duo of 11 Plc and Central Securities Clearing System (CSCS) Plc, according to data obtained from the bourse.

11 Plc lost N4.01 yesterday to settle at N127.49 per unit compared with the preceding day’s value of N131.50 per unit, while CSCS Plc depreciated by 10 Kobo to settle at N14.40 per share, in contrast to Tuesday’s closing price of N14.50 per share.

There was a 538.7 per cent rise in the volume of securities traded at the midweek session as investors exchanged 189,416 units compared with the 29,657 units traded in the preceding session.

Also, there was a 2,139.4 per cent jump in the value of shares traded yesterday, as securities valued at N19.2 million exchanged hands compared with the N855,388.00 worth of securities transacted a day earlier.

These transactions were executed in 15 deals, 150 per cent higher than the six deals carried out in the preceding trading day.

Geo-Fluids Plc closed the day as the most traded stock by volume (year-to-date) with 820.8 million units worth N1.3 billion, Industrial and General Insurance (IGI) Plc stood in second place with 627.7 units valued at N49.4 million, while UBN Property Plc was in third place with 390.9 million units worth at N332.0 million.

The most traded stock by value (year-to-date) remained VFD Group Plc with the sale of 10.4 million units valued at N2.4 billion, Geo-Fluids Plc followed with 820.8 million units worth N1.3 billion, while FrieslandCampina Wamco Nigeria Plc was in third place with 5.0 million units valued at N350.2 million.