Nigeria’s Unlisted Securities Market Ends Losing Streak, Gains 0.30%

By Adedapo Adesanya

The bears were chased away from the NASD Over-the-Counter (OTC) Securities Exchange on Tuesday, October 13, after dominating for some trading sessions.

Yesterday, Nigeria’s unlisted securities market heaved a sigh of relief after it gained 0.30 per cent at the close of business.

Investors’ portfolios increased by N8.42 billion, leaving the platform’s market capitalisation at N2.584 trillion from the previous day’s N2.576 trillion. The NASD Security Index (NSI) added 12.69 points to close at 4,306.08 points compared with Monday’s 4,293.39 points.

Business Post reports there were seven price movements, with three on the green side and four on the red side.

Central Securities Clearing System (CSCS) Plc gained N2.59 to close at N98.51 per unit compared with the previous session’s N95.92 per unit, Food Concepts Plc appreciated by 6 Kobo to N2.10 per share from N2.04 per share, and FrieslandCampina Wamco Nigeria Plc improved by 1 Kobo to N135.71 per unit from N135.70 per unit.

On the flip side, 11 Plc weakened by N14.00 to N231.10 per share from N245.10 per share, Nipco Plc dipped by N6.11 to N414.99 per unit from N421.10 per unit, Industrial and General Insurance (IGI) Plc moderated by 5 Kobo to 51 Kobo per share from 56 Kobo per share, and Afriland Properties Plc dropped 3 Kobo to sell at N12.30 per unit versus N12.33 per unit.

Yesterday, the volume of trades decreased by 47.9 per cent to 1.9 million units from 3.6 million units, the value of transactions declined by 5.3 per cent to N46.4 million from N49.0 million, and the number of deals increased by 15.4 per cent to 30 deals from 26 deals.

Great Nigeria Insurance (GNI) Plc ended the session as the most traded stock by value on a year-to-date basis, with 3.4 billion units valued at N8.4 billion, trailed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units sold for N6.5 billion, and CSCS Plc transacted 81.9 million units for N6.0 billion.

GNI Plc also finished the day as the most traded stock by volume on a year-to-date basis, with 3.4 billion units worth N8.4 billion, followed by Infracredit Plc with 2.3 billion units exchanged for N6.5 billion, and Resourcery Plc with 1.1 billion units traded for N415.7 million.