NIPCO Inflicts First Loss of 2022 on Unlisted Securities Market

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) shrank for the first time in 2022 after it recorded a 0.21 per cent depreciation on the back of bearish price movement from Nipco Plc on Thursday, January 6.

NIPCO Plc closed the day as the single price mover with its value depreciating by N7 or 11.1 per cent to trade at N63.00 per share compared with the previous closing price of N70.00 per share.

This loss inflicted by NIPCO weakened the total value of the unlisted securities market in Nigeria by N1.31 billion to wrap the session at N631.72 billion in contrast to N633.03 billion it closed in the preceding session.

In the same vein, the NASD Unlisted Security Index (NSI) went down by 1.55 points to wrap the session at 746.03 points compared with 747.58 points recorded at the previous session.

A look at the activity chart showed that the market posted a decline in the volume of securities traded by investors on Thursday as the trading volume closed at 10,000 units compared with the 31,739 units traded at the preceding session, signifying a decline by 68.5 per cent.

Similarly, the NASD OTC bourse posted a decline in the value of transactions yesterday as investors traded securities worth N410,250 as against the N975,452.00 recorded on Wednesday, showing a decline by 57.9 per cent.

In addition, the number of deals executed during the session declined by 71.4 per cent as these trades were carried out in two deals in contrast to the seven deals executed a day earlier.

At the close of trading, the most traded stock by volume on a year-to-date basis was Central Securities Clearing Systems (CSCS) Plc with 39,000 worth N743,500.00, Friesland Campina WAMCO Nigeria Plc traded 10,939 units of its stocks valued at N1.3 million, while Nipco has transacted 5,000 units worth N315,000.

The most traded stock by value on a year-to-date basis was Friesland Campina WAMCO Nigeria Plc with 10,939 units of its stocks valued at N1.3 million, CSCS Plc followed with 39,000 units valued at N743,500, while Nipco Plc trailed with 5,000 units worth N315,000.