Unlisted Securities Exchange Sheds N4.26bn

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange extended its losing streak on Thursday, October 8, after it closed lower by 0.16 per cent, as a result of waning appetite for unlisted securities.

This pulled back the market capitalisation by N4.26 billion to N2.633 trillion from the previous session’s N2.638 trillion, and moderated the NASD Security Index (NSI) by 7.11 points to 4,388.41 points from 4,395.52 points.

Five stocks recorded price movements during the session, with three gainers and two decliners.

MRS Oil Nigeria Plc led the gainers, appreciating by 10 per cent to N116.60 per share from N106.00 per share. Lighthouse Financial Services Plc gained 9.9 per cent to close at N1.24 per unit versus the preceding day’s N1.13 per unit, and FrieslandCampina Wamco Nigeria Plc firmed up by 1.5 per cent to settle at N152.25 per share, in contrast to Wednesday’s closing price of N150.00 per share.

On the losing side, Food Concepts Plc declined by 6.8 per cent to finish at N2.24 per unit compared with the previous day’s N2.40 per unit, and Central Securities Clearing System (CSCS) Plc shed 1.6 per cent to close at N98.78 per share versus N100.37 per share.

Trading activity weakened significantly yesterday, with the volume of securities down by 72.1 per cent to 315,883 units from 1.13 million units, and the value of transactions depleting by 87 per cent to N20.1 million from N115.3 million.

However, the number of deals increased by 25 per cent to 35 deals from 28 deals in the previous session, indicating an increase in transaction frequency despite lower trading volumes and value.

Meanwhile, Great Nigeria Insurance Plc retained its position as the most traded stock by value on a year-to-date basis, with 3.4 billion units traded for N8.4 billion, trailed by Infrastructure Credit Guarantee Plc with 2.3 billion units valued at N6.5 billion, and CSCS Plc with 81.9 million units worth N6.0 billion.

GNI also ended the session as the most active stock by volume on a year-to-date basis, with 3.4 billion units transacted for 8.4 billion, followed by Infracredit with 2.3 billion units sold for N6.5 billion, and Resourcery Plc with 1.1 billion units exchanged for N415.7 million.