Unlisted Securities Further Lose 0.16% as Investors’ Confidence Wane

August 4, 2021
Unlisted Securities Traders

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange marked its fifth straight session in the bearish territory on Tuesday, August 3 as the major market barometers further went south by 0.16 per cent.

The drop was impacted by the negative price movements in the shares of Nigerian Exchange (NGX) Group Plc and Food Concepts Plc.

While NGX Group lost 39 kobo or 2.4 per cent to close at N16.51 per unit as against the previous N16.90 per unit, Food Concepts Plc went down by 5 kobo or 6.3 per cent to close at 79 kobo per share compared with 84 kobo per share it ended on Monday.

Due to the losses recorded by the duo, the NASD Unlisted Security Index (NSI) shed 1.22 points to end the day at 748.76 points as against 749.98 points it recorded at the previous session.

Also, the market capitalisation of unlisted securities in Nigeria decreased by N1.06 billion to close at N650.80 billion compared with N651.86 billion it quoted at the previous session.

At the market yesterday, the trading volume reduced by 63.9 per cent to 2.7 million units from 7.4 million units, while the trading value declined by 99.2 per cent to N7.1 million from N861.0 million, with the number of deals depreciating by 20.6 per cent to 10 deals from the preceding day’s 32 deals.

When trading activities were brought to an end on Tuesday, Geo Fluids Plc remained as the most traded stock by (year-to-date) with the sale of 1.0 billion units of its shares valued at N700.1 million. NGX Group trailed with the sale of 370.2 million units worth N7.9 billion, while Food Concepts Plc was in third place with 294.4 million units worth N385.4 million.

But the most traded stock by value (year-to-date) was still maintained by NGX Group with the sale of 370.2 million units of its securities for N7.9 billion. VFD Group Plc remained in the second spot with 6.3 million units of its securities valued at N2.0 billion, while the third spot was kept by Niger Delta Exploration and Production (NDEP) Plc with 3.2 million units valued at N981.9 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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