Unlisted Securities Market Closes Bearish by 0.73%

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange returned to the bearish territory at the midweek session following negative movement in the equity prices of two companies.

The Central Securities Clearing Systems (CSCS) Plc recorded a 78 kobo or 4.4 per cent depreciation to sell at N17.76 per share compared to N18.54 per share of the previous session, while the Nigerian Exchange (NGX) Group Plc lost 37 kobo or 2.1 per cent to close at N17.36 per unit as against the preceding day’s N17.73 per unit.

The poor performance of these two stocks depressed the market capitalisation by N3.9 billion to close at N532.97 billion from N536.87 billion and weakened the NASD Unlisted Security Index (NSI) by 5.48 points to 749.81 points from 755.29 points it recorded at the previous session.

During the session, there was a drop in the volume of securities traded at the unlisted securities market as investors exchanged 6.3 million units, 30.7 per cent lower than the 9.0 million units of securities transacted by market participants at the previous session.

Likewise, there was a decline in the value of shares traded yesterday. The total value traded at the midweek session amounted to N109.1 million, 50.4 per cent lower than the N219.8million made a day earlier.

These trades came from 29 deals, 50.9 per cent lower than the 59 deals recorded on Tuesday.

Geo Fluids Plc remained as the most active stock by volume (year-to-date) as it has traded 1.0 billion units of its shares for N700.1 billion. NGX Group followed for trading 314.0 million shares for N6.9 billion, while Swap Technologies & Telecomms Plc was in third place with 46.6 million units worth N41.0 million.

In terms of value, NGX Group was on top for transacting 314.0 million securities for N6.9 billion and was trailed by Niger Delta Exploration and Production (NDEP) Plc with 3.2 million units of its securities valued at N966.3 million, while FrieslandCampina WAMCO Nigeria occupied the third position with 6.7 million units valued at 834.8 million.