Local Unlisted Securities Gain 1.86% as Market Cap Nears N1.1trn

By Adedapo Adesanya

A 1.86 per cent growth was posted by the NASD Over-the-Counter (OTC) Securities Exchange on Friday after four stocks on the platform gained weight at the close of transactions.

This was spurred by renewed interest in local unlisted securities, as investors seek to diversify their investments, especially because of the moves of the administration of President Bola Tinubu.

11 Plc gained N15.40 to close at N169.40 per unit versus N154.00 per unit, FrieslandCampina Wamco Nigeria Plc rose by N4.82 to finish at N79.71 per share compared with the previous day’s N74.89 per share, Central Securities Clearing System (CSCS) Plc increased by 86 Kobo to end at N17.86 per unit versus N17.00 per unit, and Afriland Properties Plc chalked up 25 Kobo to trade at N2.87 per share versus Thursday’s closing price of N2.62 per share.

However, the share price of Acorn Petroleum was down at the close of business by 1 Kobo to 16 Kobo per unit from the preceding session’s value of 17 Kobo per unit.

The gains posted by the four stocks offset the marginal loss printed by Acorn Petroleum, raising the market capitalization of the alternative bourse by N19.59 billion to N1.074 trillion from N1.054 trillion, and lifted the NASD Unlisted Securities Index (NSI) by 14.16 points to 776.70 points from 762.54 points.

The market witnessed a 488.1 per cent rise in the volume of securities traded by investors to 1.9 million units from the 320,858 units of the previous day. The value of trades grew by 42.4 per cent to N13.1 million from N9.2 million, while the number of deals decreased by 28.1 per cent to 23 deals from 32 deals.

CSCS Plc closed the day as the most traded equity by volume (year-to-date) with 1.1 billion units worth N21.2 billion, Geo-Fluids was in second place with 625.8 units valued at N1.1 billion, and Industrial and General Insurance (IGI) Plc was in third place with 607.3 million units worth N48.0 million.

Also, CSCS Plc ended the trading session as the most traded stock by value (year-to-date) with 1.1 billion units sold for N21.2 billion, VFD Group followed with 18.9 million units worth N4.2 billion, and Geo-Fluids Plc was in third place with 625.8 million units valued at N1.1 billion.