Investors drop FCWAMCO as NASD OTC sustains decline

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Transactions on the NASD OTC market in month of August 2019 sustained bearish-run to four (4) consecutive months. The market indicators posted marginal loss, dropping 0.01% driven by price depreciation of a highly capitalized stock.

The Unlisted Security Index (USI) declined by 3.59 absolute point, representing 0.01% dip, to closed at 720.42 points compared with 724.01 posted in the month of July.

Similarly, the market capitalization which opened the month of August at N520.15bn lost N2.57bn to close at N517.58bn.

Source: NASD, GTI Research

FrieslandCampina WAMCO Nig. Plc posted the only price loss with N0.97 decline in price to close at N140.75 per share.

Central Securities Clearing System Plc topped the gainers’ list with a gain of N0.65 to close at N13.16 per share. Followed by Niger Delta Exploration and Production Plc with N0.31 appreciation to close at N318.00.

Of the thirty-nine (39) securities admitted to trade on NASD OTC platform, only eleven (11) traded in the month of August, with four (4) appreciating in value, one (1) depreciating and six (6) remaining unchanged.

Overall, a total turnover of 4.12 million shares worth ₦333.89 million in 187 deals were traded in the month of August by investors on the OTC market, relative to 7.48 million shares worth ₦402.95 million in 229 deals in July, 2019.

Great Nigeria Insurance Plc (GNI) was admitted to trade on the NASD OTC Securities Exchange with the code SDGNI. GNI issued 3.83 billion unit of shares with the Nominal Value of N0.50, resulting to N1.91 billion Market Capitalization.

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