Adedapo Adesanya
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange recorded a loss on Tuesday and it was the fourth consecutive time this was happening.
During the trading session, the unlisted securities market ended in negative territory as a result of the 0.49 per cent slide it closed with.
This battered the NASD Unlisted Security Index (NSI) by 3.48 points to 707.24 points from the 710.72 points recorded at Monday’s trading session.
It equally depleted the market capitalisation of the bourse by N2.50 billion to N507.45 billion from N509.95 billion achieved the preceding day.
The bearish environment was activated by a loss in the price of Central Securities Clearing Systems (CSCS) Plc stocks by 50 kobo or 3.1 per cent, closing at N15.50 per unit compared to N16 per unit it traded a day earlier.
However, the level of trading activities improved yesterday as the volume of trades rose by 172.9 per cent to 234,152 units from Monday’s 85,800 units.
But the value of the transactions reduced yesterday by 55.7 per cent as securities worth N8.1 million exchanged hands in contrast to the previous N18.3 million.
Also, the total number of deals executed by market participants went down by 72.7 per cent as only three deals were performed at the exchange as against the 11 deals recorded on Monday.
Business Post reports that these deals were carried out on shares of FrieslandCampina WAMCO Nigeria Plc, CSCS Plc, and Nipco Plc.
The market, which closed without a price gainer, had UBN Property Plc emerging as the most active stock by volume (year to date) with the sale pf 15.5 million units valued at N16.8 billion. CSCS Plc trailed with the sale of 4.7 million units worth N73.1 million, while FrieslandCampina WAMCO Nigeria Plc has traded 2.3 million units worth N280.0 million.
In terms of the most traded stock by value (year-to-date), FrieslandCampina occupied the topmost spot with the sale of 2.3 million units valued at N280.0 million. Niger Delta Exploration and Production (NDEP) Plc has exchanged 603,911 units worth N195.9 million, while CSCS has traded 4.7 million units worth N73.1 million.
