Unlisted Securities Market Halts Losing Streak with 0.65% Appreciation

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange halted its losing streak on Monday, August 24, after it closed higher by 0.65 per cent at the close of business.

During the trading session, the market capitalisation rose by N21.75 to close at N2.574 trillion compared with the previous day’s N2.557 trillion, and the NASD Security Index (NSI) added 28.15 points to settle at 4,289.55 points, in contrast to last Friday’s 4,261.64 points.

Data showed that when the unlisted securities market ended for the session, there were three price losers and four price gainers, led by Central Securities Clearing System (CSCS) Plc, which gained N5.41 to close at N88.41 per unit versus N83.00 per unit.

Further, UBN Property Plc appreciated by 19 Kobo to N2.09 per share from N1.90 per share, Food Concepts Plc improved by 5 Kobo to N2.40 per unit from N2.35 per unit, and Geo-Fluids Plc expanded by 2 Kobo to N2.08 per share from N2.06 per share.

On the flip side, FrieslandCampina Wamco Nigeria Plc dipped by N5.90 to N147.00 per unit from N152.90 per unit, Afriland Properties Plc lost 50 Kobo to end at N20.00 per share versus N20.50 per share, and Industrial and General Insurance (IGI) Plc crashed by 4 Kobo to 51 Kobo per unit from 55 Kobo per unit.

During the trading day, the volume of securities went up by 472.9 per cent to 1.9 million units from 326,837 units, and the number of deals jumped by 58.8 per cent to 54 deals from 34 deals, while the value of securities declined by 77.6 per cent to N10.9 million from N48.6 million.

The most traded stock by value was Great Nigeria Insurance (GNI) Plc on a year-to-date basis, with 3.4 billion units sold for N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units exchanged for N6.5 billion, and CSCS Plc with 80.0 million units transacted for N5.8 billion.

The most active stock by volume on a year-to-date basis was also GNI Plc, with 3.4 billion units worth N8.4 billion, trailed by Infracredit Plc with 2.3 billion units valued at N6.5 billion, and Resourcery Plc with 1.1 billion units traded for N415.7 million.