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Stocks on NASD OTC Exchange Lose N10.25bn

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By Adedapo Adesanya

Stocks on the NASD Over-the-Counter (OTC) Securities Exchange were in red on Wednesday as a result of the 1.87 per cent decline in the space.

This caused investors at the unlisted securities market to lose N10.25 billion as a result of the profit-taking witnessed during the trading session.

At the close of business, the market capitalisation reduced to N536.65 billion from N546.95 billion, while the NASD Unlisted Security Index (NSI) shed 14.42 points to end the day at 754.98 points as against 769.40 points it recorded at the previous session.

The negative outcome reported at the NASD OTC Exchange came as FrieslandCampina WAMCO Nigeria Plc and Central Securities Clearing Systems (CSCS) Plc both recorded drop in their stock prices.

Friesland lost N8.50 or 7.1 per cent to close at N120 per unit as against N128.50 per unit of the previous session, while CSCS went down by N1.17 kobo or 6.8 per cent to end the session at N16.14 per share compared to N17.31 per share of the previous session.

These two equities outweighed the 2.8 per cent or 58 kobo growth in the shares of Nigerian Exchange (NGX) Group Plc, closing at N20.99 per unit versus the previous N20.41 per unit.

Business Post reports that the trading volume reduced by 57.9 per cent to 2.6 million units from 6.1 million units, while the trading value went down by 55.4 per cent to N62.3 million from N139.6 million, with the number of deals going down by 54.4 per cent to 21 deals from 46 deals.

During the session, NGX Group recorded the highest number of trades, 13 deals, while the duo of Friesland and CSCS Plc accounted for four deals each.

Also, NGX Group was the most active stock by volume (year-to-date) with 257.1 million units worth N5.8 billion, followed by Swap Technologies and Telecomms Plc with 46.6 million units worth N41.0 million and CSCS Plc with 29.8 million units worth N464.3 million.

In the same vein, NGX Group closed as the most traded stock by value (year-to-date) with 257.1 million units valued at N5.8 billion and was trailed by NDEP Plc with 2.9 million units valued at N900.2 million and Friesland with 5.9 million units valued at N741.0 million.

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