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OTC Securities Weakens

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CEM REPORT, MARKET The NASD Over-the-Counter (OTC) Securities Exchange closed below 700 basis points on Tuesday 17th January.

A fall in the share price of Friesl and Campina Wamco Nigeria Plc and Central Securities Clearing Systems (CSCS) Plc weakened market capitalisation by N9.65 billion to N917.48 billion from N927.13 billion.

The market depreciated by 1.04 percent or 7.34 points at the close of transactions to 698.23 points from 705.57 points.


Data showed that the volume of securities traded at the bourse yesterday dipped by 93.8 percent as investors exchanged 168,050 units of securities, in contrast to the 2.7 million units of securities transacted by market participants in the preceding session.

Although, the value of shares traded at the unlisted securities market went up by 272.4 percent to N9.4 million from the N2.5 million traded the previous day.

Similarly, the number of deals executed by traders during the session increased by 150 percent to 25 deals from the 10 deals carried out on Monday.

Friesl and Campina lost N3.92 during the day’s trading to settle at N63.08 per unit compared with the preceding day’s N67.00 per unit, while CSCS Plc dropped 40 Kobo to trade at N12.20 per share as against Monday’s value of N12.60 per share.

At the close of transactions, VFD Group Plc was the busiest stock by value on a year-to-date basis with a turnover of 417,492 units valued at N101.9 million.

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Friesl and Campina Wamco Nigeria Plc followed with the sale of 668,306 units worth N44.1 million, and Niger Delta Exploration and Production (NDEP) Plc with the sale of 91,000 units valued at N15.9 million.

The most traded stock by volume on a year-to-date basis was Geo Fluids Plc, trading 20.4 million units worth N15.5 million.

UBN Property Plc was in second place with 9.0 units valued at N6.5 million, while Friesl and Campina Wamco Nigeria was in third place for selling 668,306 units valued at N44.1 million.


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