Unlisted Securities Market Closes Flat After Easter Break

April 12, 2023
Unlisted Securities Market

By Adedapo Adesanya

Investors trading on the floor of the NASD Over-the-Counter (OTC) Securities Exchange played it safe on Tuesday, April 11, as the unlisted securities market closed flat in the first trading session of the week after the Easter break.

The market had closed its doors to traders for two days to celebrate Easter, and when it returned yesterday, it ended with no price gainer or loser.

Consequently, the market capitalisation of the alternative securities exchange remained unchanged at N1.02 trillion, as the NASD Unlisted Securities Index (NSI) was in a stalemate at 737.97 points.

However, the level of activity closed mixed as investors traded a total of 513.5 million units of securities, in contrast to the 4.2 million units of securities transacted in the preceding session, indicating a jump of 3,523.8 per cent.

In the same vein, the value of transactions went up by 57.5 per cent as the market participants traded shares worth N43.2 million compared to the N27.4 million recorded in the previous session.

However, the total number of deals carried out at the close of business went down by 35 per cent to 13 deals compared with the 20 deals executed in the preceding trading day.

At the close of transactions, Geo-Fluids Plc maintained its position as the most traded stock by volume on a year-to-date basis with 811.1 million units valued at N1.3 billion, Industrial and General Insurance (IGI) Plc trailed with the sale of 604.6 million units worth N47.7 million, while UBN Properties Plc was in third place with 369.8 million units valued at N313.0 million.

On the flip side, VFD Group Plc remained the most traded stock by value on a year-to-date basis with 10.4 million units valued at N2.4 billion, Geo-Fluids Plc followed with a turnover of 811.1 million units worth N1.3 billion, while UBN Property Plc was in third place with 369.8 million units valued at N313.0 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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