Adedapo Adesanya
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange extended its stay in the bearish territory for the third consecutive session on Friday after it depreciated by 0.1 per cent.
This made the NASD Unlisted Security Index (NSI) shed 0.74 points to end the day at 752.50 points as against 753.24 points it recorded at the previous session.
In the same vein, the market capitalisation of unlisted securities in Nigeria went down by N640 million to close at N654.05 billion compared with the preceding day’s N654.69 billion.
The loss recorded at the alternative bourse was largely due to the decline in the share price of Nigerian Exchange (NGX) Group Plc by 35 kobo or 2.1 per cent to close at N16.49 per unit against N16.84 per unit it ended on Thursday.
It overpowered the 5 kobo or 0.04 per cent growth recorded by FrieslandCampina WAMCO Nigeria Plc, which closed the session at N120.05 per share in contrast to Thursday’s N120 per share.
On the activity chart, there was a 60.3 per cent drop in the volume of securities traded by investors to 1.5 million units from 3.7 million units transacted a day earlier.
Likewise, the market witnessed a 44.9 per cent decline in the value of shares traded yesterday to N35.9 million from N65.3 million recorded at the prior trading day.
Also, the number of deals carried out by market participants went down by 20.6 per cent to 27 deals from 34 deals achieved at the previous session.
At the close of transactions, the most traded stock by volume on a year-to-date basis was Geo Fluids Plc as it has transacted 1.0 billion units of its shares valued at N700.1 million. NGX Group trailed with 364.7 million units worth N7.8 billion, while Food Concepts Plc has exchanged 292.0 million units worth N383.6 million.
However, the most traded stock by value on a year-to-date basis was NGX Group with the sale of 364.7 million units worth N7.8 billion, followed by VFD Group Plc, which has exchanged 4.1 million units valued at N1.3 million, and Niger Delta Exploration and Production (NDEP) Plc, which has transacted 3.2 million units valued at N978.8 million.
