Nigeria’s Unlisted Securities Market Closes 0.88% Higher

Unlisted Securities Market

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange equity market overturned the previous day’s loss to move up by 0.88 per cent on Tuesday, August 4.

The session also saw a rise in the volume of shares transacted by investors as a total of 109,694 units of securities were traded, 92.5 per cent higher than Monday’s 57,000 units.

This happened as the market capitalisation rose by N4.53 billion or 0.88 per cent to close at N518.22 compared to N513.69 billion it depreciated to at the previous session.

Likewise, the NASD Unlisted Securities Index (NSI) moved up to 705.48 points at the close of business yesterday from 699.31 points.

This lift came from the day’s only gainer, Niger Delta Exploration and Production (NDEP) Plc, saw its share price to increase by 9.09 per cent or N25 to close at N275 per share in contrast to N250 per share it closed the day before.

At the previous session, the value of shares exchanged by traders declined to N8.4 million and at the close of the session on Tuesday, it further dropped by 50.9 per cent to N4.1 million.

However, the number of deals executed during the session increased by 125 per cent to nine deals compared to four deals executed on Monday.

The deals were made on four securities led by FrieslandCampina WAMCO Nigeria Plc, which saw five deals. The day’s gainer NDEP Plc recorded two deals, while Central Securities Clearing Systems (CSCS) Plc and Food Concepts Plc ended the day with one deal each.

The market registered no price decliner when trading activities were brought to an end for the day.

ARM Life Plc closed the session as the most active stock by volume (year-to-date) with 7.4 billion units of its shares traded for N4.6 billion. CSCS Plc was in second place with 199.6 million units worth N2.7 billion, while Food Concept Plc held the third position with 125.1 million units of its shares worth N88.1 million.

Also, ARM Life Plc closed as the most active stock by value (year-to-date) with 7.4 billion units of securities traded for N4.6 billion, while CSCS Plc followed with 199.6 million units exchanged for N2.7 billion, with NDEP Plc in third place after trading 8.5 million units of its securities valued at N2.6 billion.

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.

more recommended stories

%d bloggers like this: