Nigeria’s Unlisted Securities Market Sheds 1.11%

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By Adedapo Adesanya

The unlisted securities market closed in the negative territory on Tuesday following the 1.11 per cent decline it encountered at the session.

This was because of the poor performance of FrieslandCampina WAMCO Nigeria Plc, which slipped the NASD Over-the-Counter (OTC) Securities Exchange at the close of transactions.

It consequently reduced the market capitalisation by N5.83 billion to N521.90 compared to N527.73 billion it finished on Monday.

Equally, it depressed the NASD Unlisted Security Index (NSI) by 7.94 points to 710.49 points from 718.43 points it was previously.

Business Post reports that the milk maker had its stock price going down yesterday by N7.05 or 5.5 per cent to settle at N120 per share versus N127.05 per share of the previous session.

There was a price gainer on Tuesday, but the gain could not lift the market. This riser was the Niger Delta Exploration and Production (NDEP) Plc, which added N5.79 to its share value to finish at N330.58 per share in contrast to N324.79 it ended on Monday.

On the activity chart, the volume of securities transacted by investors increased by 1,982.2 per cent to 534,500 units from the previous 25,870 units.

Also, the value of shares exchanged by traders rose by 894.5 per cent yesterday to N71.4 million from N7.2 million at the last session.

However, the number deals executed during the session fell by four or 57.1 per cent to three deals compared with the seven deals executed a day before.

These deals were from FrieslandCampina WAMCO Nigeria Plc which accounted for one and NDEP Plc which recorded two deals.

ARM Life Plc closed the session as the company with the highest volume of shares traded by investors (year-to-date), accounting for 7.4 billion units worth N4.6 billion. Central Securities Clearing Systems (CSCS) Plc accounted for 200.4 million units valued at N2.7 billion, while Food Concepts Plc accounted for 125.1 million units transacted for N88.1 million.

In terms of the most traded stock by value (year-to-date), ARM Life Plc also occupied the topmost position after trading 7.4 billion units of its securities for N4.6 billion. For the second spot, due to the day’s activity, NDEP Plc displaced CSCS after trading N2.69 billion shares from 8.7 million units, while CSCS Plc now occupies the third spot with 200.4 million units valued at N2.67 billion.

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