NASD Unlisted Security Index Extends Loss by 0.93%

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange extended its stay in the bearish territory for the second session this week following a 0.93 per cent loss it printed on Tuesday.

The negative movement in the value of Central Securities Clearing Systems (CSCS) Plc and Nigerian Exchange (NGX) Group Plc further depressed the market capitalisation of the exchange by N4.95 billion to close at N525.23 billion in contrast to N530.18 billion it quoted at the previous session.

Similarly, the two stocks sliced the NASD Unlisted Security Index (NSI) by 6.97 points to 738.91 points from 745.88 points it recorded at the previous session.

Business Post reports that CSCS Plc depreciated by 99 kobo or 5.50 per cent to sell at N17 per share compared to N17.99 per share of the previous session.

On its part, NGX Group saw its stock lose 40 kobo or 2.1 per cent to close at N18.93 per unit as against N19.33 per unit it finished a day earlier.

At the market yesterday, the trading volume suffered a 59.7 per cent slump as only 366,354 units were transacted by investors in contrast to the 909,339 units traded on Monday, indicating that investors’ interest in the market is gradually waning and they need a trigger to boost their confidence.

Also, the trading value went down by 55.4 per cent as shares worth N8.3 million exchanged hands compared with the N18.5 million transacted on Monday.

In the same vein, the unlisted securities market recorded only 20 deals, 33.3 per cent lower than the 30 deals executed at the preceding trading day.

NGX Group maintained its position as the most active stock by volume (year-to-date) for trading 272.1 million units of its shares for N6.1 billion. The second spot was retained by Swap Technologies & Telecomms Plc for transacting 46.6 million units worth N41.0 million while CSCS Plc held the third position for exchanging 31. 4 million shares valued at N494.2 million.

In terms of value, NGX Group also remained the busiest with the sale of 272.1 million units of its securities for N6.1 billion, followed by Niger Delta Exploration and Production (NDEP) Plc with 2.9 million units valued at N900.6 million and FrieslandCampina WAMCO Nigeria with 5.9 million units valued at 753.5 million.