UBN Property Drags Unlisted Securities Exchange Down by 0.02%

November 10, 2022
unlisted securities exchange

By Adedapo Adesanya

There was a marginal fall of 0.02 per cent at the NASD Over-the-Counter (OTC) Securities Exchange on Wednesday, with UBN Property Plc influencing the downfall of the bourse.

The property investment company extended the bearish run of the unlisted securities exchange after its value went down by 3 Kobo to close at 98 Kobo per unit compared with the previous N1.01 per unit.

Consequently, the market capitalisation of the bourse fell by N170 million to close the day at N942.59 billion, in contrast to Tuesday’s value of N942.76 billion, while the NASD Unlisted Securities Index (NSI) depreciated by 0.13 points to wrap the midweek session at 717.34 points compared with 717.47 points of the previous session.

During the session, traders bought and sold 1.1 million units of shares at the exchange compared with the 192,056 units of shares transacted in the preceding session, indicating a jump of 493.9 per cent.

These trades were made out of eight deals compared to the nine deals reported a day earlier, representing a decline of 11.11 per cent in the number of deals.

The transactions were worth N1.4 million, 90.6 per cent lower than the N1.4 million carried out on Tuesday.

The market closed with no price advancer, as AG Mortgage Bank Plc remained the most traded stock by volume (year-to-date) traded, with a turnover of 2.3 billion units worth N1.2 billion. Central Securities Clearing System (CSCS) Plc was in second place with 687.8 million units worth N14.3 billion, while Mixta Real Estate Plc held the third position with 178.0 million units worth N313.4 million.

In terms of value on a year-to-date basis, CSCS Plc was the most transacted equity with a turnover of 687.8 million units valued at N14.3 billion, VFD Group came in second place with the sale of 29.1 million units valued at N7.7 billion, followed by FrieslandCampina WAMCO Nigeria Plc with a turnover of 15.4 million units valued at N1.8 billion.

Adedapo Adesanya

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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