Unlisted Securities Traders Gain N50m in Week 47

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange appreciated by 0.01 per cent in Week 47 of 2022 amid weak appetite for shares in the market.

Business Post reports that unlisted securities traders gained N50 million in the five-day trading week, pushing the market capitalisation of the bourse slightly higher to N935.12 billion from the previous week’s N935.07 billion.

In the same tone, the NASD Securities Index (NSI) improved marginally by 0.05 points to close the week at 711.66 points against the 711.61 points it finished a week earlier.

In the week, the unlisted market recorded a single price gainer and this was UBN Property Plc, which increased by 1.0 per cent to settle at N1.00 per unit versus 99 Kobo per unit it closed the previous week.

Last week, there was a 63.9 per cent decrease in the total value of securities traded by investors to N37.5 million from N103.9 million, the volume of stocks decreased by 97.9 per cent to 1.4 million units from the N68.7 million units traded in Week 46, while the number of deals depreciated by 12.5 per cent to 35 trades from the 40 trades recorded in the preceding week.

At the close of the week, UBN Property Plc was the most traded security by volume with the sale of 1.00 million units, followed by FrieslandCampina Wamco Nigeria Plc with a turnover of 219,714  units, Niger Delta Exploration and Production (NDEP) Plc with 90,963 units, Nipco Plc transacted 90,963 units, and Afriland Property Plc with the sale of 6,264 units.

However, the most traded stock by value in the week was FrieslandCampina Wamco Nigeria Plc with N14.3 million, Nipco Plc traded N14.1 million, NDEP Plc recorded N8.0 million, UBN Property Plc posted N1.00 million, and Afriland Plc expended N8,613.00.

In the year so far, NSI Year-to-date returns decreased by 4.2 per cent, while investors have transacted 3.8 billion units of securities worth N27.5 billion in 2,451 deals.