Adedapo Adesanya
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.
