UBN Property Lifts Unlisted Securities Bourse by 0.01% at Midweek

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By Adedapo Adesanya

A property investment company, UBN Property Plc, helped the NASD Over-the-Course (OTC) Securities Exchange up by 0.01 per cent on Wednesday, November 23, as the market continues to battle weak investor sentiment.

The company recorded a 1 Kobo gain to sell at N1.00 per share compared with the previous day’s value of 99 Kobo per share and this growth raised the market capitalisation of the unlisted securities bourse by N60 million to N935.52 billion from N935.46 billion.

Equally, the value of the NASD unlisted securities index (NSI) increased at the close of transactions yesterday by 0.04 points to 711.95 points from the 711.91 points recorded a day earlier.

Business Post reports that in the midweek trading session, the trading volume rose by 3,034.9 per cent as a total of 1.00 million units of shares exchanged hands compared with the 32,050 units transacted on Tuesday.

However, the value of transactions went down by 21.1 per cent to N1.7 million from the N2.2 million recorded in the preceding trading day, while the number of deals depreciated by 64.3 per cent as these trades were completed in five deals, in contrast to the 14 deals carried out on Tuesday at the bourse.

The market was without a price decliner on Wednesday.

When trading activities were brought to an end yesterday, AG Mortgage Plc maintained its position as the most traded stock by volume on a year-to-date basis with a turnover of 2.3 billion units valued at N1.2 billion, followed by Central Securities Clearing System (CSCS) Plc with the sale of 687.8 million units worth N14.3 billion, and Lighthouse Financials Services Plc with a turnover of 224.7 million units valued at N112.3 million.

Also, CSCS Plc retained its spot as the most active stock by value on a year-to-date basis with the sale of 687.8 million units worth N14.3 billion, trailed by VFD Group Plc with the sale of 29.1 million units valued at N7.7 billion, and FrieslandCampina WAMCO Nigeria Plc with the sale of 16.3 million units valued at N1.8 billion.

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