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Business News

0.47% Loss Further Weakens Unlisted Securities Market

NASD OTC

The NASD Over-the-Counter (OTC) Securities Exchange further depreciated by 0.47 per cent on Thursday, June 19 due to profit-taking in Central Securities Clearing System (CSCS) Plc.

The share price of the company went down by N2.70 to close at N29.00 per unit compared with the preceding day’s value of N31.70 per unit.

This suppressed the gains recorded by the duo of Food Concepts Plc and Industrial and General Insurance (IGI) Plc yesterday.

Data showed that Food Concepts Plc appreciated by 16 Kobo to finish at N1.77 per share versus the previous day’s price of N1.61 per share, and IGI Plc went up by a Kobo to sell for 36 Kobo per unit, in contrast to the preceding session’s 35 Kobo per unit.

When the bourse ended trading activities for the day, the market capitalisation shrank by N9.12 billion to N1.943 trillion from N1.953 trillion and the NASD Unlisted Security Index (NSI) declined by 15.57 points to close at 3,319.78 points compared with Wednesday’s 3,335.35 points.

Trading data showed a 68.6 per cent slump in the volume of stocks bought and sold by investors on Thursday to 262,134 units from the 839,331 units recorded in the previous trading day, the value of securities transacted decreased by 90.5 per cent to N4.6 million from N48.1 million, and the number of deals tumbled by 59.0.per cent to 25 deals from 61 deals.

Impresit Bakolori Plc remained the most active stock by volume on a year-to-date basis with 536.9 million units valued at N524.7 million, Air Liquide Plc traded 507.2 million units for N4.2 billion to retain the second spot, and Geo-Fluids Plc sold 268.5 million units worth N475.8 million to occupy the third place.

Okitipupa Plc maintained its position as the most active stock by value on a year-to-date basis with 153.7 million units sold for N4.9 billion, trailed by Air Liquide Plc with 507.2 million units valued at N4.2 billion, and FrieslandCampina Wamco Nigeria Plc with 40.1 million units worth N1.6 billion.