Investors of Unlisted Securities Lose N43bn

March 5, 2024
Unlisted Securities Market

By Adedapo Adesanya

It was a bad day for investors of unlisted securities in Nigeria as the NASD Over-the-Counter (OTC) Securities Exchange ended the first trading session of the week on a negative note with a 3.11 per cent loss triggered by four stocks on the platform.

The culprits were UBN Property Plc, Aradel Holdings Plc, Central Securities Clearing System Plc, and Resourcery Plc. They were under selling pressure during the trading session.

This resultantly trimmed N43 billion from the market capitalisation of the bourse to N1.449 trillion from N1.542 trillion, as the NASD Unlisted Security Index (NSI) dropped 35.53 points to end the day at 1,106.08 points compared with last Friday’s 1,141.61 points.

Yesterday, UBN Property Plc lost 17 Kobo to close at N1.73 per share versus N1.90 per share, Aradel Holdings Plc went down by N195 to settle at N2,200.00 per unit compared with the N2,395.00 per unit it was sold in the previous market day, CSCS Plc fell by 96 Kobo to N18.50 per unit against N19.46 per unit, and Resourcery Plc slumped by 1 Kobo to 40 Kobo per share from 41 Kobo per share.

The volume of securities traded at the bourse on Monday increased by 60.1 per cent to 1.3 million units from 838,537 units, the value of trades rose by 8.5 per cent to N61.8 million from the preceding session’s N56.9 million, while the number of deals crashed by 17.7 per cent to 14 deals from the 17 deals transacted in the previous trading day.

Aradel Holdings Plc, with a turnover of 1.9 million units valued at N4.2 billion, remained the most active equity by value on a year-to-date basis, trailed by FrieslandCampina Wamco Nigeria Plc with 4.5 million units sold for N338.8 million, and Mixta Real Estate Plc with 69.9 million units exchanged for N114.5 million.

The most traded stock by volume on a year-to-date basis was Mixta Real Estate Plc with 69.9 million units transacted for N114.5 million, followed by IPWA Plc with 48.9 million units worth N24.4 million, and Geo-Fluids Plc with 45.8 million units valued at N113.1 million.

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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