Unlisted Securities Market Closes Flat Wednesday

Unlisted Securities Market

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange closed in the flat territory for the first time in over 10 sessions on Wednesday, June 10.

At the preceding session, the major performance barometers fell by 0.99 percent, but at the close of business yesterday, the total market value and the index remained at Tuesday’s figures.

Both the market capitalisation and the NASD Unlisted Security Index (NSI) closed at N501.34 billion and 682.49 points respectively.

At the midweek session, market participants executed two deals at the bourse, lower than four deals recorded at the previous trading day.

The deals at the Wednesday’s session were carried out on securities belonging to VFD Group Plc and Afriland Plc (one deal each), which in total amounted to 88,100 units of shares, 47 percent lower than the 166,300 units of securities transacted by investors on Tuesday.

These transacted amounted to N9.2 million worth of stocks traded by investors, 79.5 percent lower than the N45.2 million worth of shares transacted during the previous session at the unlisted securities market.

At the midweek session, the market closed without a price gainer or loser unlike in the previous sessions.

Insurance company, ARM Life Plc, maintained its position as the most traded securities at the NASD Exchange by volume (year-to-date) with 7.4 billion units of its shares sold for N4.6 billion.

It was followed by Central Securities Clearing Systems (CSCS) Plc, which has traded 195.8 million units worth N2.6 billion, and Food Concept Plc, which has transacted 110 million units of its shares valued at N77 million.

In terms of the most active stock by value (year-to-date), ARM Life Plc also remained on top of the chart for trading 7.4 billion units of its shares worth N4.7 billion. It was trailed by CSCS Plc, which has so far transacted 195.8 million units worth N2.6 billion, and Niger Delta Exploration and Production (NDEP) Plc which has exchanged 7.8 million units of its securities for N2.4 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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