Nipco, Two Others Depress Unlisted Stock Market by 0.37%

By Adedapo Adesanya

The unlisted stock market went down by 0.37 per cent on Tuesday following a decline in the prices of Nipco Plc, Niger Delta Exploration and Production (NDEP) Plc, and Central Securities Clearing Systems (CSCS) Plc.

Business Post reports that the NASD Over-the-Counter (OTC) Securities Exchange could not sustain the bullish run it recorded the preceding sessions as a result of the fall posted by the trio.

Consequently, the market capitalisation decreased by N2.34 billion to close the day at N633.06 billion in contrast to the previous day’s N635.40 billion, while the NASD Unlisted Securities Index (NSI) depleted by 2.76 points to wrap the session at 747.61 points compared with 750.37 points of the previous session.

Nipco Plc was the worst-performing stock yesterday as its price went down by N6.90 or 11.1 per cent to N62.10 per unit from N69.00 per unit, NDEP Plc lost N3 or 1.3 per cent to trade at N235.00 per share as against Monday’s closing price of N238.00 per share, while CSCS Plc dropped 10 kobo or 0.5 per cent to sell for N19.90 per unit versus the preceding day’s N20.00 per unit.

During the session, there was a surge in the volume of securities traded at the bourse by 59,025.2 per cent as investors exchanged 453.7 million units compared with the previous trading day’s 767,309 units.

Likewise, the value of shares traded at the session ballooned to N9.8 billion, which by evaluation is 31,396.1 per cent higher than N31.3 million posted on Monday.

However, these transactions were executed in 11 deals, 21.4 per cent lower than the 14 deals carried at the preceding trading session.

At the close of trading, CSCS Plc was the most traded stock by volume on a year-to-date basis with 454.3 million units worth N9.5 billion, followed by VFD Group Plc with the sale of 916,161 units valued at N331.5 million, and Friesland Campina WAMCO Nigeria Plc with the sale of 204,102 units for N24.1 million.

CSCS Plc was also the most traded stock by value on a year-to-date basis with 454.3 million units valued at N9.5 billion, also trailed by VFD Group Plc with 916,161 units worth N331.5 million, while Friesland Campina WAMCO Nigeria Plc has traded 204,102 units for N24.1 million.