By Adedapo Adesanya
It was a negative outcome for the NASD Over-the-Counter (OTC) Securities Exchange on Tuesday, January 13 as the unlisted market environment was dampened by 0.06 per cent on the back of a loss suffered by UBN Property Company Plc.
The properties investment subsidiary of Union Bank Nigeria Plc recorded a 6 kobo or 4.8 per cent depreciation to close at N1.20 per share in contrast to N1.26 it closed on Monday.
This was responsible for the decline at the unlisted securities market at the second trading session of the week as the market capitalisation went down by N330 million to close at N531.67 billion as against N532 billion it settled at the previous session.
The bearish performance of the stock also weakened the NASD Unlisted Security Index (NSI) by 0.47 points to end the day at 740.98 points as against 741.45 points it recorded at the preceding session.
But the activity chart was mixed yesterday as the volume of securities traded at the bourse by investors increased by 853.5 per cent to 1.6 million units from the 171,600 units of securities transacted by market participants on Monday.
However, there was a decline in the value of shares traded yesterday by 96.7 per cent as shares worth N1.9 million exchanged hands in contrast to the N59.7 million achieved on Monday.
Also, the number of deals depreciated by 66.7 per cent due to the single deal transacted on Tuesday as against the three deals carried out a day earlier. The lone deal was done on the shares of UBN Properties Plc, the day’s lone price mover.
At the close of transactions, UBN Property Plc was the most active stock by volume on a year-to-date basis with the sale of 1.6 million shares worth N2.0 million. NDEP Plc trailed with the sale of 196,650 stocks valued at N68.9 million, Central Securities Clearing Systems (CSCS) Plc has transacted 45,890 units worth N724,268, FrieslandCampina WAMCO Plc has sold 37,994 units worth 5.5 million, while Nipco Plc has exchanged 2,500 units for N170, 000.
In terms of the most active stock by value on a year-to-date basis, NDEP Plc took the top position with 196,650 units worth N68.9million. FrieslandCampina WAMCO Plc followed for trading 37,994 units worth N5.5 million, UBN Property Plc stood on the third spot for exchanging 1.6 million units valued at 1.9 million, CSCS Plc occupied the fourth position with the sale of 45,890 units of its stocks worth N724,268, while Nipco Plc claimed the fifth spot for trading 2,500 units for N170,000.
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