Value of OTC Stock Market Swells by N11.47bn

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange closed in the positive territory by 1.23 per cent on Monday, December 5.

Business Post reports that FrieslandCampina WAMCO Nigeria Plc contributed to the growth posted by the OTC stock market yesterday, boosting the value of the bourse by N11.47 billion to N945.18 billion from the preceding session’s N933.71 billion.

Equally, the improvement in the share price of the milk-producing company raised the NASD Unlisted Securities Index (NSI) higher by 8.73 basis points to 719.31 basis points versus last Friday’s 710.58 basis points.

Data showed that the firm gained N6.71 or 9.30 per cent to close at N72.50 per unit, in contrast to the previous N66.33 per unit.

During the session, there was a fall in the volume, value, and number of securities transacted by investors at the unlisted securities market.

The volume of unlisted securities traded by market participants stood at 38,620 units in contrast to the 2.2 million units transacted in the preceding session, indicating a slump of 98.2 per cent.

Likewise, the value of shares exchanged by traders depreciated by 75.7 per cent to N2.2 million from N10.7 million, and the number of trades executed at the bourse yesterday slumped by 40 per cent to 12 deals from the 20 deals published in the previous trading day.

As the market closed for the day, AG Mortgage Bank Plc remained the most traded stock by volume on a year-to-date basis, with the sale of 2.3 billion units worth N1.2 billion. Central Securities Clearing System (CSCS) Plc also retained the second spot with the sale of 687.8 million units valued at N14.3 billion, while Lighthouse Financials Services Plc was in third place with 224.7 million units valued at N112.3 million.

Also, CSCS Plc maintained its position as the most active stock by value on a year-to-date basis with a turnover of 687.8 million units valued at N14.3 billion, trailed by VFD Group Plc with the sale of 29.1 million units worth N7.7 billion, while FrieslandCampina WAMCO Nigeria Plc retained the third place with the sale of 16.8 million units valued at N1.9 billion.