Nigeria’s Unlisted Securities Market Further Sheds 0.59%

By Adedapo Adesanya

The first trading session of the week at the NASD Over-the-Counter (OTC) Securities Exchange further ended on a negative note as a result of the poor performances of FrieslandCampina WAMCO Nigeria Plc and NASD Plc.

The unlisted securities market in Nigeria closed Monday’s session 0.59 per cent lower as a result of the two stocks admitted on the trading platform.

The milk producer lost N3.54 or 3.1 per cent yesterday to trade at N114.46 per share compared with the previous value of N118.00 per share, while the demutualized NASD Plc declined by 51 kobo or 4.9 per cent to quote at N10.45 per unit as against the previous closing price of N10.96 per unit.

As a result of the losses, the NASD unlisted securities index (NSI) further depleted by 4.35 points to 737.65 points from 742 points, while the market capitalisation dwindled by N3.68 billion to wrap the day at N624.63 billion in contrast to N628.31 billion it ended last Friday.

However, the trading volume rose yesterday by 88.6 per cent as a total of 108,985 units of shares exchanged hands compared with 57,695 units transacted last Friday.

At the close of business, the trading value skyrocketed by 981.4 per cent to N9.5 million from the previous session’s N874,635.50, while the number of deals increased by 114.3 per cent as traders carried out 15 deals versus the seven deals executed at the previous session.

The session had no price gainer on record.

When the market closed for the day, Central Securities Clearing Systems (CSCS) Plc remained as the most traded stock (year-to-date) by volume with 653.9 million units sold for N13.7 billion. NASD Plc came next with 2.8 million units valued at N48.2 million, while Food Concepts Plc came in third place as it has so far traded 2.0 million units valued at N1.6 million.

Also, CSCS Plc ended the day as the most traded stock by value (year-to-date) with 653.9 million units sold for N13.7 billion and was trailed by VFD Group Plc with 916,161 units worth N331.5 million, and FrieslandCampina WAMCO Nigeria Plc with 633,503 units worth N74.6 million.