By Adedapo Adesanya
The value of companies trading their shares on the National Association of Securities Dealers (NASD) Over-the-Counter (OTC) Securities Exchange expanded by 2.1 per cent or N20 billion on Wednesday, June 8, with the market capitalisation closing at N1.023 trillion from N1.003 trillion.
In the same vein, the NASD Unlisted Securities Index (NSI) moved higher during the session by 15.83 points to settle at 777.75 points in contrast to the previous day’s 761.92 points.
The feat was boosted by the gains recorded by the duo of Niger Delta Exploration and Production (NDEP) Plc and FrieslandCampina WAMCO Nigeria Plc.
The oil and gas investment company improved its equity price by N18.00 or 10.00 per cent to close at N198.00 per unit compared with the previous day’s N180.00 per unit, while the milk-producing giant appreciated by N9.00 or 9.42 per cent to trade at N104.59 per share versus N95.59 per share.
Despite the positive outcome, the trading volume slumped yesterday by 99.4 per cent as a total of 75,934 units of securities exchanged hands compared with the 11.9 million units transacted in the previous session.
At the close of business, the trading value slid by 98.4 per cent to N3.9 million from the previous day’s N234.4 million, while the number of deals depreciated by 70.8 per cent to seven deals from 24 deals in the previous session.
AG Mortgage Bank Plc finished the trading session as the most traded stock by volume (year-to-date) with 2.3 billion units valued at N1.2 billion, Central Securities Clearing System (CSCS) Plc stood in second place with 672.7 million units worth N14.0 billion, while Food Concepts Plc was in third place with 146.0 million units valued at N126.7 million.
On the flip side, CSCS Plc ended as the most traded stock by value (year-to-date) with 672.7 million units exchanged for N14.0 billion, VFD Group was in second place with 9.6 million units valued at N2.9 billion, while FrieslandCampina WAMCO Nigeria Plc has transacted 9.4 billion units valued at N1.2 billion.