Bears Return to Unlisted Securities Market With 0.27% Loss

By Adedapo Adesanya

The unlisted securities market depreciated by 0.27 per cent on Wednesday following the invasion of the bears. They were invited to the NASD Over-the-Counter (OTC) Securities Exchange by three companies; 11 Pc, Niger Delta Exploration and Production (NDEP) Plc; and Central Securities Clearing System (CSCS) Plc.

Business Post reports that 11 Plc lost N11.50 or 6.0 per cent to sell at N180.00 per unit as against the previous day’s N191.50 per unit, NDEP Plc recorded a N4.94 or 2.6 per cent decline to close at N188.06 per share versus Tuesday’s N193.00 per share, while CSCS Plc melted by 8 kobo or 0.5 per cent to N16.91 per unit from N16.99 per unit.

These three securities suppressed the gains posted by the duo of FrieslandCampina WAMCO Nigeria Plc and Food Concepts Plc as the former gained N2.32 or 1.2 per cent to close at N193.33 per share versus N191.01 per share of the preceding session, while the latter appreciated by 8 kobo or 10.7 per cent rise to close at 83 kobo per unit as against the previous day’s 75 kobo per unit.

At the close of transactions, the value of the NASD over-the-counter (OTC) Securities Exchange stood at N1.008 trillion in contrast to the previous day’s N1.011 trillion after shedding N2.71 billion.

Also, the NASD Unlisted Securities Index (NSI) ended in the negative territory after it went down by 2.06 points to wrap the session at 766.70 points compared with 768.76 points in the previous session.

However, there was a surge in the volume of securities yesterday by 9,134.9 per cent as investors exchanged 51.6 million units in contrast to the previous trading day’s 559,025 units.

Likewise, the value of shares at the session ballooned to N432.3 million, 630.7 per cent higher than the N59.2 million posted on Tuesday. These trades were carried out in 46 deals, 70.4 per cent higher than the preceding session’s 27 deals.

AG Mortgage Bank Plc finished as the most traded stock by volume on a year-to-date basis with 2.3 billion units valued at N1.2 billion, while CSCS Plc stood in second place with 661.1 million units worth N13.9 billion, with Food Concepts Plc in third place with 69.0 million units valued at N56.0 million.

However, CSCS Plc was the most traded stock by value (year-to-date) with 661.1 million units exchanged for N13.9 billion, AG Mortgage Plc was in second place with 2.3 billion units valued at N1.2 billion, while FrieslandCampina WAMCO Plc was in third place with 5.8 million units worth N845.6 million.