By Adedapo Adesanya
Despite a high volume of shares transacted on Thursday, September 17 at the NASD Over-the-Counter (OTC) Securities Exchange, the market pointed south at the close of business.
The major performance indicators of the market fell by 0.29 per cent with the market capitalisation closing at N528.90 billion after losing N1.55 billion, while the NASD Unlisted Security Index (NSI) ended at 720.02 points against 722.13 points, down 2.11 points.
As earlier indicated, the trading volume increased by 63.9 per cent to 1.33 million units from the previous session’s 812,166 units.
Also, the value of transactions recorded on Thursday increased by 158.2 per cent to N21.1 million from N8.2 million recorded on Wednesday.
In the same vein, the number deals executed by investors during the session increased by four or 44.4 per cent to 13 deals from nine deals executed the previous day.
These deals were from eight securities led by Central Securities Clearing Systems (CSCS) Plc which accounted for four deals. It was followed by FrieslandCampina WAMCO Nigeria Plc with three while the Niger Delta Exploration and Production (NDEP) Plc, Nipco Plc, Mixta Real Estate Plc, Afriland Plc, Air Liquide Plc, and Famad Nigeria Plc all ended the day with one deal each.
Out of these companies, CSCS Plc was the session’s only decliner as its stock price shed 31 kobo or 2.24 per cent to close at N13.50 per unit from N13.81 per share of the previous day.
The most active stock by volume (year-to-date) was ARM Life Plc, which has traded 7.4 billion units of its shares worth N4.6 billion. CSCS Plc was in second place with 202.9 million units worth N2.7 billion, while Food Concept Plc held the third position with 125.1 million units of its shares worth N88.1 million.
Also, the underwriting firm retained its position as the company with the highest value of traded equities, accounting for 7.4 billion units of its securities traded for N4.6 billion. NDEP Plc followed with 8.8 million units of its stocks exchanged for N2.7 billion, while CSCS Plc was in third place after transacting 202.9 million units of its securities valued at N2.7 billion.
Modupe Gbadeyanka