Adedapo Adesanya
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange plunged further by 1.28 per cent on Tuesday, May 31 on the back of sell-offs in Niger Delta Exploration and Production (NDEP) Plc, FrieslandCampina WAMCO Nigeria, and UBN Property Plc.
This weakened the market capitalisation of the unlisted securities by N12 billion to N1.014 trillion from the previous day’s N1.026 trillion and slacked the NASD Unlisted Securities Index (NSI) by 10.00 points to end the day at 770.00 points as against 780.00 points in the previous session.
Business Post reports that the share price of NDEP Plc depreciated by 6.67 per cent or N15.00 to settle at N210.00 per unit versus the previous day’s N225.00 per unit, FrieslandCampina WAMCO Nigeria Plc lost N5.00 or 5.00 per cent to trade at N95.00 per share compared with Monday’s N100.00 per share, while UBN Property Plc dropped 12 kobo or 9.52 per cent to N1.14 per unit in contrast to the preceding session’s N1.26 per unit.
Yesterday, the volume of securities broadly increased by 1,202.5 per cent as investors exchanged 1.4 million stocks compared with the previous day’s 103,762 stocks.
However, the value of the transactions decreased by 17.3 per cent to N17.8 million from N21.5 million, while the number of deals remained unchanged at seven deals.
At the close of trades, AG Mortgage Bank Plc was the most traded stock by volume (year-to-date) as it has transacted 2.3 billion units valued at N1.2 billion, Central Securities Clearing System (CSCS) Plc has exchanged 662.2 million units worth N13.9 billion, while Food Concepts Plc has traded 138.0 million units valued at N118.7 million.
The most active stock by value (year-to-date), however, was CSCS Plc as it has transacted 662.2 million units for N13.9 billion, VFD Group was in second place with a turnover of 9.6 million units valued at N2.9 billion, while AG Mortgage Bank Plc occupied third place with the sale of 2.3 billion units worth N1.2 billion.
