Adedapo Adesanya
By Adedapo Adesanya
Trading value of unlisted securities market, the NASD Over-the-Counter (OTC) Securities Exchange, depreciated on Wednesday by 91 percent.
According to data from the exchange, stocks valued at N404,116 exchanged hands at the midweek session in contrast to the N4.4 million recorded at the previous day.
These transactions were from two deals executed by investors, lower than the three deals carried out at the market on Tuesday by 33.33 percent.
A breakdown of these deals by Business Post showed that FrieslandCampina WAMCO Nigeria Plc accounted for N120,000 of the total transactions value, while Niger Delta Exploration and Production (NDEP) Plc contributed N284,116.
A look at the volume of shares traded by market participants at the exchange yesterday indicated an 88 percent decline as a total of 1,973 shares exchanged hands compared with the 16,200 units bought and sold by investors at the previous session.
During the session, the market ended with no price gainer or loser, resulting into the key performance indicators closing flat after activities were wrapped up.
The NASD unlisted securities index (NSI) and market capitalisation remained unchanged on Wednesday at 688.51 points and N505.76 billion respectively. It was the second straight session such is happening.
When the market finished for the day on Wednesday, one of the leading insurerers, ARM Life Plc, was the most active stock by volume (year-to-date), trading 7.4 billion units of its shares worth N4.6 billion. It was trailed by Food Concept Plc, which has traded 110 million units of its securities valued at N77 million, and Lighthouse Financial Services Plc, which has transacted 48 million units of its securities for N24 million.
In terms of the NASD listed firm with the highest value of trades (year-to-date), ARM Life Plc still retained its top with a total of 7.4 billion units of its shares sold for N4.6 billion. NDEP Plc, which is in second place has transacted 6.9 million units valued at N2.13 billion, while Friesland Campina has exchanged 2.4 million units worth N292.8 million.
