Unlisted Securities Depreciate by 0.50% at Midweek Session

By Adedapo Adesanya

Despite recording two price gainers, the NASD Over-the-Counter (OTC) Securities Exchange closed lower by 0.50 per cent on Wednesday on the back of a decline in the share price of Central Securities Clearing System (CSCS) Plc.

The stock depreciated by N1.17 or 7.4 per cent at the midweek session to close at N15.83 per unit as against the previous day’s N17.00 per unit.

CSCS Plc overpowered the gains printed by the duo of Niger Delta Exploration and Production (NDEP) Plc and Food Concepts Plc at the unlisted securities market yesterday.

NDEP Plc gained N5 or 2.6 per cent to trade at N195.00 per share compared with Tuesday’s closing price of N190.00 per share, while Food Concepts Plc rose by 4 kobo or 4.6 per cent to 87 kobo per share in contrast to 83 kobo per share of the preceding session.

At the close of transactions, the bourse lost N4.71 million as the market capitalisation finished at N928.73 billion versus the N933.44 billion it quoted on Tuesday.

In the same vein, the NASD Unlisted Securities Index (NSI) shed 3.58 points to end the day at 706.33 points as against the 709.91 points it recorded in the previous session.

During the trading day, the volume of transactions increased by 6,583.2 per cent to 25.3 million units from 377,862 units, while the value of trades rose by 24.2 per cent to N35.8 million from N28.9 million, with the number of deals declining by 50 per cent to 16 deals from 32 deals.

AG Mortgage Bank Plc maintained its position as the most active stock by volume on a year-to-date basis with 2.3 billion units worth N1.2 billion, CSCS Plc stood in second place with 661.6 million units worth N13.9 billion, while Food Concepts Plc was in third place with 94.0 million units valued at N77.8 million.

On the flip side, CSCS Plc, with the sale of 661.6 million units for N13.9 billion, was the most active stock by value on a year-to-date basis and was trailed by AG Mortgage Bank Plc with 2.3 billion units valued at N1.2 billion, and FrieslandCampina WAMCO Nigeria Plc with 8.3 million units valued at N1.1 billion.