Unlisted Securities Extend Loss by 0.02%

March 22, 2023
unlisted securities exchange

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange recorded a marginal loss of 0.02 per cent on Tuesday, March 21, to remain in the red territory.

Recall that a day earlier, unlisted securities in Nigeria depreciated by 0.05 per cent due to renewed profit-taking, and yesterday, this action persisted as investors make efforts to rebalance their portfolios due to the macroeconomic environment.

As a result, the NASD Unlisted Securities Index (NSI) went down by 0.15 points on Tuesday to 730.94 points from the 731.09 points reported in the previous session, while the market capitalisation of the alternative bourse depleted by N200 million as it finished at N960.46 billion compared with Monday’s closing value of N960.66 billion.

Data showed that the loss reported during the session was driven by the 10 Kobo decline in the share price of FrieslandCampina Wamco Nigeria Plc, as it ended the day at N75.01 per unit versus the previous day’s N75.11 per unit.

A look at the market activity chart revealed that the volume of securities traded at the bourse yesterday went down by 99.9 per cent to 8,408 units from the 58.1 million units quoted at the Monday session.

Similarly, the value of shares bought and sold by market participants decreased by 97.8 per cent to N1.1 million from N50.3 million, while the number of deals depreciated by 75 per cent to three deals from the 12 deals achieved in the preceding trading session.

The most active stock by volume on a year-to-date basis remained Geo-Fluids Plc with 455.3 million units worth N493.6 million, UBN Property Plc retained second place with 365.8 units valued at N309.5 million, and IGI Plc was in third place with 25.1 million units worth N1.9 million.

Also, the most active stock by value (year-to-date) was still VFD Group Plc at the close of transactions on Tuesday with 7.3 million units valued at N1.7 billion, Geo-Fluids Plc followed with 455.3 million units worth N493.6 million, while UBN Property Plc was in third place with 365.8 million units worth N309.5 million.

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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