Connect with us
Unlisted Securities Market Unlisted Securities Market

Economy

Unlisted Securities Market Closes Week 0.27% Higher

Published

on

By Adedapo Adesanya

The week ended at the NASD Over-the-Counter (OTC) Securities Exchange in the positive territory as the bourse extended its recent bullish run on Friday, April 9.

Two of the bellwether stocks spurred the 0.27 per cent appreciation recorded at the unlisted securities market yesterday.

These equities were Niger Delta Exploration and Production (NDEP) Plc and VFD Group Plc and they both recorded heavy gains to raise both the market capitalisation higher and the market index to break its previous day year-to-date high.

They overpowered the loss recorded by FrieslandCampina WAMCO Nigeria Plc, which declined by N3.90 or 2.9 per cent to close at N127 per share from N130.90 per share.

VFD Group was the largest gainer at the session as it stocks appreciated by N27.18 or 10 per cent to sell at N299.02 per unit compared to N2711.84 per unit of the previous session.

On its part, NDEP Plc appreciated by N16.30 or 5.0 per cent to close at N340 per unit compared to the previous closing price of N323.70 per unit.

These gains lifted the NASD Unlisted Security Index (NSI) by 2.05 basis points to a new 2021 high of 755.84 points compared with the preceding day’s 753.79 points.

In the same breath, the market capitalisation added N1.46 billion to settle at N537.26 billion in contrast to N535.80 billion it finished at the Thursday session.

There was, however, a drop in the total volume of shares transacted at the final session of the week as it moved down by 17.4 per cent to 78,037 units from the previously quoted 94,500 units.

But there was a surge of 1,131.8 per cent in the value of the stocks transacted by market participants as a total of N22.6 million shares were traded compared with N1.8 million worth of shares exchanged a day earlier.

The total number of deals fell by 28.57 per cent as five deals were recorded as against seven deals at the previous session.

These deals were executed on the four companies with VFD Group Plc accounting for two deals, NDEP Plc, FrieslandCampina WAMCO Nigeria Plc and Central Securities Clearing Systems (CSCS) Plc accounting for one deal each.

UBN Property Plc closed as the most active stock by volume on a year-to-date basis for trading 21.9 million units valued at N24.6 billion. CSCS Plc trailed for transacting 8.3 million units worth N128.5 million, while Friesland held the third position with 3.5 million units worth N435.4 million.

In terms of the value on a year-to-date basis, NDEP Plc was the most active for transacting 2.2 million units valued at N694.4 million. Friesland trailed with 3.5 units of its securities valued at N433.4 million while VFD Group Plc has traded 1.2 million units worth N195.9 million.

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.

Click to comment

Leave a Reply

The blockchain brings new financing options to the business market. For example, Bitcoin Cash casino has adapted to only using cryptocurrency. This way, it makes it easier for their customers to deposit and withdraw in a BCH casino. Entrepreneurs have taken note of this and are looking to invest more in crypto than in fiat markets.

Like Our Facebook Page

Latest News on Business Post

Trending

%d bloggers like this: