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Nigeria's Unlisted Securities Market Sheds 0.78%, NASD Shares up 8.31% Nigeria's Unlisted Securities Market Sheds 0.78%, NASD Shares up 8.31%

Economy

NGX Group, Two Others Lead NASD to Record High in 2021

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By Adedapo Adesanya

The NASD Over-the-Counter OTC Securities Exchange grew by 1.85 per cent on Thursday to reach a record high in the 2021 trading year.

At the session, the NASD Unlisted Security Index increased by 14.35 points to hit 789.19 points, its highest peak in the year compared with the 774.84 points it closed on Wednesday

This development boosted the portfolios of investors as the market capitalisation of the exchange expanded by N10.2 billion to close at N560.96 billion in contrast to N550.76 billion of the preceding session.

Three stocks led by the Nigerian Exchange (NGX) Group Plc were responsible for the uptrend witnessed at the unlisted securities market yesterday. The share price of NGX went up by 9.2 per cent or N2.39 to close at N28.51 per unit compared with the previous N26.12 per unit.

FrieslandCampina WAMCO Nigeria Plc moved up by 7.3 per cent or N9.68 to finish at N142.64 per share versus the previous closing rate of N132.96 per share, while Central Securities Clearing System (CSCS) Plc rose by 0.9 per cent or 15 kobo to N16.65 per share from N16.50 per share.

The market was without a price decliner on Thursday.

However, there was a drop in the volume of securities traded at the bourse by 36.8 per cent as investors exchanged 13.1 million units as against the 20.6 million units of securities of the previous trading day.

Likewise, there was a decline in the value of shares traded yesterday by 29.7 per cent as shares worth N372.8 million exchanged hands compared with the previous N533.0 million.

The trades were executed in 70 deals, 4.5 per cent higher than the 67 deals achieved on Wednesday and they were made on NGX (61 deals), CSCS (four deals), Friesland (four deals) and Niger Delta Exploration and Production (NDEP), which had a single deal.

NGX Group closed the session as the most active stock by volume (year-to-date) for trading 118.6 million units of its shares worth N2.6 billion. CSCS Plc was in second place with 25.6 million units worth N391.3 million while UBN Property Plc held the third position with 21.9 million units of its shares worth N24.6 million.

In terms of value on a year-to-date basis, NGX Group also topped the chart with 118.6 million units valued at N2.6 billion, followed by NDEP which has traded 2.3 million units worth N704 million and Friesland, which has exchanged 4.2 million units valued at N524.6 million.

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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