Unlisted Securities in Nigeria Secure 0.57% Growth Friday

unlisted securities index

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange wrapped a very cautious week with a win on Friday, October 23, with a growth of 0.57 per cent.

The bullish outcome came after the two previous sessions were in the flat territory as panic made investors to hold on due to disruptions brought about by hoodlums amid anti-police brutality protests which were met with more brutality from men of the military.

At the close of business yesterday, the value of the unlisted securities market in Nigeria increased by N3 billion to N529.76 billion from N526.76 billion.

Also, the NASD Unlisted Security Index (NSI) rose by 0.57 per cent or 4.09 points to end the day at 721.19 points as against 717.10 points it recorded at the previous session.

The growth was boosted by a bellwether, Central Securities Clearing Systems Plc (CSCS), which recorded a 60 kobo or 4.01 per cent gain to close at N15.55 per share from N14.95 per share it closed the day before.

The activity chart showed that there was also a rise in the total volume of securities traded on Friday by investors as a total of 99,500 stocks exchanged hands. In comparison to the previous trading volume, there was a 9,850 per cent increase from 1,000 units of securities transacted by market participants.

These trades came from two deals executed on the day’s only advancer and price mover, CSCS Plc. At the preceding session, a single deal was executed by investors, indicating a 100 per cent increase in the number of deals.

In addition, all the shares traded yesterday amounted to N1.5 million, higher than the N1,350 realised on Thursday by 114,509.3 per cent.

At Friday’s session, ARM Life Plc closed the session as the company with the highest traded stock by volume (year-to-date) for trading 7.4 billion units of its shares worth N4.6 billion.

CSCS Plc was in second place with 203.2 million units worth N2.7 billion, while Food Concepts Plc held the third position with 128.1 million units of its shares worth N90.2 million.

Equally, ARM Life Plc also remained as the firm with the highest value of stocks transacted since the beginning of the current trading year till Friday with 7.4 billion units of securities traded for N4.6 billion.

Niger Delta Exploration and Production (NDEP) Plc came next with 10.4 million units of its securities valued at N2.7 billion, while CSCS Plc has traded 203.2 million units valued at N2.7 billion.

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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