Unlisted Securities in Nigeria Depreciate by 0.85%

 By Adedapo Adesanya

For the second straight session, the NASD Over-the-Counter (OTC) Securities Exchange recorded a loss on Tuesday and this time, it went down by 0.85 per cent.

During the session, the market capitalisation closed at N539.72 billion in contrast to Monday’s value of N544.15 billion, indicating a decline by N4.33 billion.

Equally, the NASD Unlisted Security Index (NSI) was not spared as it went down by 6.22 points to settle at 725.85 points as against 732.07 points it ended the previous day.

Business Post reports that the negative outcome printed by the unlisted securities marked yesterday was caused by the poor performance of the shares of FrieslandCampina WAMCO Nigeria Plc and it dampened the market.

Yesterday, the share price of the milk maker went down by N4.74 or 3.5 per cent to close at N130.26 per share compared to N135 per share it previously sold.

On the activity chart, Tuesday’s trading volume decreased by 90.1 per cent as a total of 29,841 units of stocks exchanged hands compared to the previous session’s 300,820 units.

Also, the value of the transactions recorded at the bourse declined by 79.1 per cent to N3.4 million from N18.1 million recorded on Monday.

In the same vein, the number deals executed by investors during the session went down by 25 per cent to three deals compared to the four deals executed the previous day.

An analysis showed that FrieslandCampina WAMCO Nigeria Plc made two deals, while Central Securities Clearing Systems (CSCS) Plc recorded a single deal.

The most active stock by volume (year-to-date) was ARM Life Plc and the company has traded 7.4 billion units of its shares worth N4.6 billion. CSCS Plc was in second place with 208.7 million units worth N2.8 billion, while Food Concepts Plc held the third position with 152.2 million units of its shares worth N109.5 million.

Also, the underwriting firm retained its position as the company with the highest value of traded equities (year-to-date) by selling 7.4 billion units of its securities for N4.6 billion. Niger Delta Exploration and Production (NDEP) Plc followed with 11.9 million units of its stocks exchanged for N3.7 billion, while CSCS Plc was in third place after transacting 208.7 million units of its securities valued at N2.8 billion.