Adedapo Adesanya
By Adedapo Adesanya
The bulls remained as the unlisted securities market for another day, improving the space further on Tuesday by 0.34 per cent.
During the trading session on the floor of the NASD Over-the-Counter (OTC) Securities Exchange, the market capitalisation increased by N1.8 billion to settle at N532.85 billion in contrast to the previous day’s N531.05 billion.
In the same vein, the NASD Unlisted Securities Index (NSI) went up by 2.51 points to close at 742.63 points compared with the preceding session’s 740.12 points.
Business Post reports that the bullish outcome of the day was influenced by Central Securities Clearing Systems (CSCS) Plc, which pulled a good performance.
The share price of the Nigerian depository company rose by 36 kobo or 2.2 per cent to settle at N16.54 per unit as against N16.18 per unit it was sold on Monday.
However, there was no price loser on Tuesday.
But the total volume of securities transacted by investors improved by 3.7 per cent as 48,450 shares exchanged hands compared with the 46,726 units recorded on Monday.
These stocks were executed in seven deals, 40 per cent higher than the five deals of the previous trading day and they were carried out on three companies: Niger Delta Exploration and Production (NDEP) Plc, which contributed three deals and FrieslandCampina WAMCO Nigeria Plc and CSCS Plc, which posted two deals each.
These transactions were worth N3.6 million, 40.5 per cent lower than the N6.1 million worth of securities transacted by investors a day earlier.
UBN Property Plc was the most active stock by volume on a year-to-date basis with the sale of 15.1 million units valued at N16.3 million. It was followed by CSCS Plc, which traded 2.4 million units worth N37.8 million, and FrieslandCampina, which sold 1.9 million units worth 237.1 million.
In terms of the most active stock by value (year-to-date), FrieslandCampina topped the table with 1.9 million units worth N237.1 million, NDEP Plc has sold 286,806 units worth N99.2 million, while CSCS Plc has traded 2.4 million units valued at N37.8 million.
