NDEP, CSCS Extend Gains at Unlisted Securities Market

By Adedapo Adesanya

For the fifth consecutive session, the unlisted securities market in Nigeria closed in the positive territory after it appreciated by 0.69 per cent on Monday.

Business Post observed that the growth recorded at the first trading session on the floor of the NASD over-the-counter (OTC) Securities Exchange was buoyed by two of the market bellwethers; the Niger Delta Exploration and Production (NDEP) Plc and the Central Securities Clearing Systems (CSCS) Plc.

While the NDEP Plc appreciated by N6.85 or 2.3 per cent to close at N305 per unit compared to the previous closing price of N298.15 per unit, the CSCS Plc gained 64 kobo or 4.4 per cent to settle at N15.35 per share in contrast to the previous N14.71 per share.

The gains printed by these two securities spurred the 5.02 basis points rise in the NASD Unlisted Security Index (NSI) to 730.93 points from 725.91 points and triggered the N3.56 billion increase in the market capitalisation to N519.55 billion from the previous N515.99 billion.

Data obtained from the NASD Exchange showed that yesterday, there was a price loser and it was FrieslandCampina WAMCO Nigeria Plc, which slipped by 0.69 per cent or 90 kobo loss to close at N130 per unit compared to N130.90 per unit of the previous session.

It was gathered that the level of activity on Monday closed mixed as the trading volume went down by 43.4 per cent to 769,371 units from 1.4 million units.

Also, the value of the securities transacted by investors during the session reduced by 76.7 per cent to N86.7 million from the preceding session’s N371.9 million.

However, the total number of deals executed by the market participants increased by 140 per cent as 12 deals were carried out as against the five deals recorded last Friday.

At the close of transactions, UBN Property Plc was the most active stock by volume on a year-to-date basis with the sale of 21.9 million units valued at N24.6 billion. It was trailed by CSCS Plc, which has traded 8.2 million units worth N125.9 million, and Friesland, which has transacted 3.5 million units worth N428.9million.

In terms of the most traded stock by value (year-to-date), NDEP Plc was on top with the sale of 1.9 million units valued at N569.5 million. Friesland trailed with 3.5 million units of its securities valued at N428.9 million, while VFD Group Plc has traded 960,884 units worth N137.5 million.