Bears Persist In NASD OTC Market

The NASD Over-the-Counter Securities Exchange remained in the bearish territory midweek as the market went further down by 0.54%.

This was occasioned by negative price movements in Central Securities Clearing System (CSCS) Plc, NASD Plc, and FrieslandCampina WAMCO Nigeria Plc.

CSCS Plc went down by 97 Kobo in the midweek to sell at N12.53 per unit compared with the previous day’s N13.50 per unit, NASD Plc lost 75 Kobo to trade at N13.00 per share versus N13.75 per share and FrieslandCampina depreciated by 5 Kobo to settle at N81.00 per share in contrast to Tuesday’s N81.05 per share.

The decline in the share prices of the three securities reduced the value of the NASD OTC bourse yesterday by N5.32 billion to N968.19 billion from N973.51 billion and sliced the NASD Unlisted Securities Index (NSI) by 4.03 points to 735.48 points from the 739.51 points it closed in the previous session.

However, the bourse witnessed a surge in the volume of securities traded by investors by 568.9 per cent to 161,681 units from 24,170 units, but the value of the transactions went down by 34.8 per cent to N3.0 million from N4.6 million, with the number of deals carried out by the market participants growing by 55.6 per cent to 14 deals from the nine deals executed a day earlier.

AG Mortgage Plc ended the trading day as the most active stock by volume (year-to-date) with a turnover of 2.3 billion units valued at N1.2 billion, CSCS Plc trailed with the sale of 687.6 million units valued at N14.3 billion, and Mixta Real Estate Plc sat in third place with 178.1 million units worth N313.4 million.

The most active stock by value (year-to-date) at the close of business yesterday was still CSCS Plc with the sale of 687.6 million units worth N14.3 billion, VFD Group Plc was in second place with 27.7 million units valued at N7.4 billion and FrieslandCampina occupied the third place for trading 14.3 million units valued at N1.7 billion.