By Adedapo Adesanya
The unlisted stock exchange in Nigeria closed the first trading session of this week in bearish territory on Monday on the back of profit-taking spurred by uncertainties in the macroeconomic environment.
Business Post reports that the NASD Over-the-Counter (OTC) Securities Exchange sank by 0.89 per cent at the close of transactions yesterday due to selling pressure on FrieslandCampina Wamco Nigeria Plc and UBN Property Plc.
The milk manufacturer lost N4.06 during the session to close at N64.94 per share compared with the preceding session’s N69.00 per share, and the real estate firm depreciated by 8 Kobo to finish at 73 Kobo per unit, in contrast to last Friday’s price of 81 Kobo.
The poor performance of the duo trimmed the market capitalisation of the bourse yesterday by N8.38 billion to N930.61 billion from N938.99 billion and slashed the NASD Unlisted Securities Index (NSI) by 6.38 points to wrap the session at 708.22 points compared with 714.60 points in the previous session.
The activity chart and the outcome of the key performance indicators clearly showed that the exchange was under selling pressure.
The volume of transactions witnessed a significant surge, 1,578.6 per cent, as investors bought and sold 2.2 million units of securities compared with the 135,116 units of securities transacted in the previous trading session.
Likewise, the value of shares traded at the session rose by 27 per cent to N13.1 million from N10.3 million, while the number of deals increased by 154.6 per cent to 28 deals from the 11 deals executed in the preceding session.
UBN Property Plc ended the day as the most traded stock by volume on a year-to-date basis, with 4.3 million units valued at N3.2 million, followed by FrieslandCampina Wamco Nigeria Plc with 411,998 units worth N27.6 million, and VFD Group Plc with 401,410 units valued at N97.9 million.
However, the most active stock by value (year-to-date) was VFD Group Plc, with 401,410 units worth N97.9 million, trailed by FrieslandCampina Wamco Nigeria Plc with 411,998 units valued at N27.6 million, and Nipco Plc with 107,398 units worth N6.4 million.
