Adedapo Adesanya
By Adedapo Adesanya
The 10.9 per cent or N1.89 decline in the share price of NASD Plc on Wednesday caused the unlisted securities exchange to fall by 0.09 per cent when trading activities were brought to an end.
The equity value of the company had been on a steady rise in the past trading sessions but yesterday to suffered a slip, which caused it to settle at N17.41 per unit compared with N19.30 per unit it closed on Tuesday.
This cost the NASD Over-the-Counter (OTC) dearly as its value went down by N580 million to N617.67 billion from N618.25 billion, while the NASD Unlisted Security Index (NSI) lost 0.71 points to wrap the session at 747.62 points compared with 748.33 points recorded at the previous session.
On the activity chart, there was a fall in the volume of securities traded at the bourse at the midweek trading session as investors only exchanged 119,332 securities, 80.1 per cent lower than the 601,000 securities traded at the preceding session.
However, the value of these transactions was N12.3 million compared with the previous day’s N11.7 million, indicating an increase of 5.1 per cent.
Business Post reports that these trades were executed in seven deals, 133.3 per cent higher than the three deals carried out on Tuesday.
Like in the preceding trading sessions, Food Concepts Plc was the most active stock by volume on a year-to-date basis at the close of business on Wednesday with 11.4 billion units of its shares sold for N14.4 billion. Lighthouse Financial Service Plc trailed with 1.1 billion units valued at N546.2 million and Geo Fluids Plc with 1.0 billion units worth N700.1 million.
On the flip side, Food Concepts Plc also closed the session as the most active stock by value on a year-to-date basis with the sale of 11.4 billion units of its securities valued at N14.4 billion. It was followed by Nigerian Exchange (NGX) Group Plc with 456.5 million units of securities worth N9.2 billion, while VFD Group Plc with 10.4 million units of its securities sold for N3.5 billion.
