Adedapo Adesanya
By Adedapo Adesanya
It was another day of loss for investors at the NASD Over-the-Counter (OTC) Securities Exchange as they lost 2.14 per cent on Tuesday.
The decline suffered by unlisted stocks in Nigeria was caused by the poor performance of three companies admitted on the NASD Exchange.
These three securities are Nigerian Exchange (NGX) Group Plc, FrieslandCampina WAMCO Nigeria Plc and Central Securities Clearing Systems (CSCS) Plc.
Friesland lost N6 or 4.5 per cent to close at N128 per unit as against the previous N134 per unit, NGX Group depreciated by N2.47 or 9.4 per cent to close at N23.77 per share compared with the previous N26.24 per share, while CSCS Plc lost N1.17 or 6.8 per cent to end the session at N16.14 per unit compared to N17.31 per unit of the preceding session.
The losses printed by these firms reduced the market capitalisation of the bourse by N11.71 billion to N536.60 billion from N548.31 billion and weakened the NASD Unlisted Security Index (NSI) by 16.47 points to 754.91 points from 771.38 points.
At the market yesterday, the trading volume reduced by 92.2 per cent to 1.4 million units from 17.6 million units, the trading value went down by 90.2 per cent to N39.3 million from N402.5 million, while the number of deals decreased by 49.4 per cent to 40 deals from 79 deals.
NGX Group accounted for 31 deals, Friesland contributed four deals, Afriland Properties Plc and CSCS Plc recorded two deals each, while Niger Delta Exploration and Production (NDEP) Plc executed one deal.
When trading activities were rounded up for the day, NGX Group was the most active by volume (year-to-date) with 179.9 million units worth N4.2 billion. CSCS Plc trailed with 27.2 million units worth N419.1 million, while UBN Property Plc held the third position with 21.9 million units worth N24.6 million.
Also, NGX Group was the most active stock by value (year-to-date) with 179.9 million units of its securities valued at N4.2 billion, followed by NDEP Plc with 2.4 million units valued at N735.0 million and Friesland with 4.2 million units valued at N529 million.
