Nigeria’s Unlisted Securities Market Dips 0.09%

By Adedapo Adesanya

Nigeria’s unlisted securities market closed 009 per cent lower on Friday following the price depreciation suffered by the Nigerian Exchange (NGX) Group Plc.

The share price of the company went down by 29 kobo or 1.8 per cent at the last trading session of the week to N16.53 per unit from N16.82 per unit it finished a day earlier.

This weakened the total value of the NASD Over-the-Counter (OTC) Securities Exchange yesterday by N570 million to N654.32 billion from N654.89 billion it closed on Thursday.

Equally, it depleted the NASD Unlisted Security Index (NSI) by 0.66 points to wrap the session at 752.81 points compared with 753.47 points it recorded at the previous session.

During the session, the volume of transactions decreased by 73.1 per cent to 1.5 million units from the preceding day’s 5.7 million units.

However, the value of transactions recorded at the trading session increased by 40 per cent to N25.9 million in contrast to the N18.5 million worth of securities transacted at the previous day.

Sadly, the number of deals carried out by investors on Friday declined by 18.75 per cent as the market participants executed 13 deals compared with the 16 deals recorded on Thursday.

At the close of transactions, Geo Fluids Plc ended as the most traded stock by volume (year-to-date) with the sale of 1.0 billion units of its shares traded for N700.1 million. NGX Group Plc trailed with the sale of 380.3 million units worth N8.0 billion, while Food Concepts Plc has transacted 294.4 million units worth N385.4 million.

On the flip side, NGX Group finished the session as the most active stock by value (year-to-date) with the sale of 380.3 million units of its securities valued at N8.0 billion and was trailed by VFD Group Plc with the sale of 6.3 million units of its securities worth N2.0 billion, and Niger Delta Exploration and Production (NDEP) Plc, which has traded 3.2 million units of its stocks valued at N984.3 million.