Mon. Nov 25th, 2024

Unlisted Securities Close Flat Despite NGX Loss

Unlisted Securities Traders

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange closed flat on Thursday, May 21 despite a stock recording a price movement.

The Nigerian Exchange (NGX) Group recorded a 2.4 per cent or 43 kobo decline during the session to close at N18.32 per share as against N18.75 per share of the previous session.

However, this could not sway the unlisted securities market to left or right as it remained static with the key performance indicators closing unchanged when trading activities were concluded yesterday.

Business Post reports that the market capitalisation of the NASD Exchange retained the previous value of N537.47 billion, while the NASD Unlisted Security Index (NSI) remained unchanged at 756.12 points.

But the activity level picked up at the season with the trading volume rising by 159.4 per cent to 4.1 million units from 1.6 million units of the preceding trading day.

Equally, the value of shares exchanged by the market participants appreciated by 130.4 per cent to N34.1 million from N8.3 million recorded at the previous session.

In the same vein, the total number of deals executed went up by 2.9 per cent as 35 deals were performed at the exchange as against the 34 deals printed on Wednesday.

These deals were executed by NGX Group with 24 deals, while FrieslandCampina WAMCO Nigeria Plc with seven deals, Central Securities Clearing Systems (CSCS) Plc with three deals and Afriland Properties Plc with a single deal.

NGX Group maintained its position as the most active stock by volume (year-to-date) for trading 277.7 million units of its shares for N6.2 billion. Swap Technologies & Telecomms Plc retained second place with 46.6 million units worth N41.0 million, while CSCS Plc held the third position with 31.5 million units of its shares worth N494.4 million.

Also, NGX Group closed as the most active stock by value (year-to-date) with 277.7 million units worth N6.2 billion, followed by Niger Delta Exploration and Production (NDEP) Plc with 2.9 million units worth N900.6 million, and Friesland with 6.1 million units valued at N764.1 million.

By Adedapo Adesanya

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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