Adedapo Adesanya
By Adedapo Adesanya
The outlook of the market for unlisted securities in Nigeria on Wednesday was negative as major parameters recorded decline after remaining unchanged on Tuesday.
For instance, the market capitalisation of the trading platform, at the NASD Over-the-Counter Exchange, dropped by 0.47 percent or N2.39 billion to close at N502.61 billion against N505 billion recorded on Tuesday.
Similarly, the NASD Security Index (NSI) also recorded a reduction of 33.32 points or 0.47 percent to close at 699.59 points at the midweek session from 702.91 points in the previous trading day.
However, the market witnessed an increase in the volume of transactions traded, rising by 215.87 percent or 147,501 units to close at 215,830 units in contrast to 68,329 units recorded on Tuesday.
In the same vein, the value of transactions recorded at the market also rose on Wednesday, this time by 100.23 percent or N4.7 million, to N9.3 million in contrast to N4.6 million previously recorded.
There was, however, a drop in the total deals executed yesterday. The number of deals at the market declined by 47.37 percent or nine to 10 deals against 19 deals executed on Tuesday.
On the price movement chart, Afriland Properties Plc was one of the two companies which recorded fall in the price yesterday. The company’s shares went down by 3 kobo or 1.41 percent to close at N2.13 from N2.16.
The second firm on the price losers’ chart was Friesland Campina Wamco Plc, which closed at N127.36 per share from N129.76 per share after losing N2.40 or 1.88 percent.
The top of trades position by volume (year to date) was still held by Food Concept Plc with a total transaction of 1,158,797,004 units valued at N843.97 billion, while UBN Properties followed with 891,085,220 units worth N1.21 billion.
Central Securities Clearing System (CSCS) Plc also retained top spot in terms of value by year-to-date with 202,272,698 units worth N2.53 billion transacted from the beginning of this year till yesterday, UBN Properties followed on the list with 884,529,600 units of its stocks sold for N1.2 billion.
