Nigeria’s Unlisted Securities Market Sheds 0.82% in One Week

By Adedapo Adesanya

The 23rd trading week of 2023 on the floor of the NASD Over-the-Counter (OTC) Securities Exchange closed on a negative note with a 0.82 per cent decline, shrinking the portfolios of investors by N12 billion due to the losses printed by four companies, which outweighed the gains recorded by three firms.

Business Post reports that Geo-Fluids lost 10.1 per cent to close at N2.77 per share compared with the preceding week’s N3.08 per share, FrieslandCampina WAMCO Nigeria Plc depreciated by 6.7 per cent to end at N70.00 per share versus N75.00 per share, Central Securities Clearing System (CSCS) made a 5.3 per cent loss to finish at N14.40 per unit versus N15.20 per unit, while Nipco Plc recorded a 2.8 per cent loss to quote at N70.00 per unit, in contrast to the preceding week’s N72.00 per unit.

Inversely, 11 Plc appreciated by 10 per cent to close the week at N131.34 per unit, in contrast to the previous N119.40 per unit, Niger Delta Exploration and Production (NDEP) Plc gained 6.1 per cent to settle at N260.00 per unit compared with the previous N245.05 per unit, while Acorn Petroleum Plc made a 3.3 per cent rise to end at 17 Kobo per share versus 15 Kobo per share.

The impact of the bears pressed down the market capitalisation of the NASD OTC Exchange to N1.010 trillion from N1.022 trillion, while the NASD Securities Index (NSI) went down by 6.07 points to 733.14 points from 739.21 points.

Data obtained from the bourse showed that in the week, the total value of transactions reduced by 53.7 per cent to N223.1 million from N482.4 million, while the volume of trades rose by 166.3 per cent to 27.6 million units from 10.4 million units, with the number of deals up by 80.5 per cent to 121 deals from 67 deals.

Purple Real Estate Plc was the most traded stock by volume last week with 22.8 million units, trailed by Acorn Petroleum Plc (2.16 million units), Geo-Fluids Plc (1.01 million units), FrieslandCampina Wamco Nigeria Plc (650,000 units), and Industrial and General Insurance (IGI) Plc with 610,000 units.

In terms of the value of transactions, Purple Real Estate Plc was also on top of the activity chart with N119 million. FrieslandCampina Wamco Nigeria Plc recorded N45 million, NDEP posted N33 million, Nipco Plc reported N9 million, and 11 Plc made N7 million.

On a year-to-date level, investors have traded 1.73 billion securities worth N5.8 billion in 1,448 deals.