By Adedapo Adesanya
The appreciation in the price of Nigerian Exchange (NGX) Group Plc could not lift the NASD Over-the-Counter (OTC) Securities Exchange on Tuesday.
It was a similar situation at the unlisted securities market on Monday, where the gains recorded by NGX Group and Afriland Properties Plc were not enough to stop the market from declining.
At the market yesterday, the platform for trading unlisted stocks in Nigeria went down by 0.17 per cent and the reason was basically due to the declines suffered by Afriland and Central Securities Clearing Systems (CSCS) Plc.
CSCS depreciated by 15 kobo or 0.9 per cent to close at N16.50 per share versus N16.65 per share it ended on Monday, while Afriland decreased by 12 kobo loss or 8.8 per cent to settle at N1.25 per unit compared with its previous rate of N1.37 per unit.
But NGX Group gained N1.88 or 8.6 per cent yesterday to close at N23.75 per unit in contrast to N21.87 per unit it finished at the preceding session.
When trading activities were ended for the day, the NASD Security Index (NSI) reduced by 1.29 points to 774.84 points from 776.13 points, while the market capitalization lost N920 million to N550.76 billion from N551.68 billion.
Business Post reports that at the market yesterday, the volume of shares traded by investors decreased by 55.5 per cent to 3.6 million units from the previous day’s 7.9 million units.
In the same trend, the trading value went southwards by 50.9 per cent to N85.5 million from N173.9 million, while the number of deals, however, increased by 193.3 per cent as 44 deals were executed compared to 15 deals recorded at the previous session.
These deals were carried out on NGX Group (25 deals), CSCS Plc and FrieslandCampina WAMCO Nigeria Plc (seven deals each), Afriland Properties Plc (three deals) and Niger Delta Exploration and Production (NDEP) Plc with two deals.
At the close of business, NGX Group was still the most active stock by volume (year-to-date) with 84.9 million units of its shares sold for N1.7 billion. CSCS Plc was in second place with 25.5 million units worth N390.2 million, while UBN Property Nigeria Plc held the third position with 21.9 million units worth N24.6 million.
Equally, the most active stock by value (year-to-date) remained NGX Group with 84.9 million units worth N1.7 billion. NDEP Plc followed for trading 2.3 million units valued at N703.9 million, while Friesland has traded 4.1 million units worth N520.1 million.
The blockchain brings new financing options to the business market. For example, Bitcoin Cash casino has adapted to only using cryptocurrency. This way, it makes it easier for their customers to deposit and withdraw in a BCH casino. Entrepreneurs have taken note of this and are looking to invest more in crypto than in fiat markets.
Like Our Facebook Page
Latest News on Business Post
- 11 Plc (Mobil Oil) Finally Quits Stock Exchange May 8, 2021
- NGX Index Rises 0.21% as Investors Patronise Value Stocks May 8, 2021
- Fresh Optimism Lifts Oil Market into Positive Territory May 8, 2021
- Moody’s Fears First Bank Financial Health Could be at Risk May 8, 2021
- CSCS Fixes May 18 for 27th AGM in Lagos May 8, 2021
- Super League: UEFA Sanctions Manchester United, Others May 7, 2021
- Union Bank CEO Buys Additional Shares Amidst Acquisition Rumour May 7, 2021
- Ex-Minister Mama Taraba Dies in Egypt May 7, 2021
- Heritage Bank, RTEAN Unveil Insurance Scheme for Travellers May 7, 2021
- NGX Praises Transcorp Hotels Efforts to Boost Investor Confidence May 7, 2021
Economy5 years ago
Kwara Disburses N1.7b For Projects
Technology5 months ago
How To Link Your MTN, Airtel, Glo, 9mobile Lines to NIN
Feature/OPED1 year ago
Davos was Different this year
Economy3 years ago
FAAC: FG, States, LGs Share N655.18b in January
Economy2 months ago
MBA Forex Blames CBN for Inability to Return Investors’ Funds
General2 years ago
Ikeja Electric Explains How to Get Prepaid Metres via MAP
Banking3 years ago
Sort Codes of GTBank Branches in Nigeria
Feature/OPED2 months ago
COVID and the Growth of Technology in Nigeria