Unlisted Securities Market Down by 1.04%

Unlisted Securities Market

By Adedapo Adesanya

Securities of the Central Securities Clearing Systems (CSCS) Plc depreciated at the unlisted securities market on Thursday, closing as the day’s sole decliner.

The Nigerian securities depository company had its share price going down by N1.10 or 7.4 per cent to close at N13.85 per share versus N14.95 per unit of the previous day.

The poor performance of the stocks weakened the NASD Unlisted Security Index (NSI) by 7.49 points or 1.04 per cent to 714.44 points from 721.93 points quoted a day earlier.

Equally, it reduced the market capitalisation by 1.04 per cent or N5.5 billion to N524.81 billion from N530.31 billion it settled at the previous session.

In terms of trading activities, more securities were traded during the session as the trading volume rose by 8.9 per cent to 132,000 units from 121,250 units traded a day before.

However, the value of securities traded by investors on Thursday decreased by 48.4 per cent to N1.8 million from the N3.5 million recorded at the previous session.

In addition, the number of deals executed by market participants went down by 70 per cent or seven deals as only three deals were carried out compared with 10 deals recorded on Wednesday.

Business Post reports that the three deals of yesterday were from the day’s decliner, CSCS Plc.

At the close business, ARM Life Plc was the company with the highest volume of traded shares (year-to-date) with 7.4 billion units worth N4.6 billion. It was followed by CSCS Plc, which traded 201.5 million units worth N2.7 billion and Food Concept Plc, which exchanged 125.1 million units of its shares valued at N88.1 million.

Equally, ARM Life Plc remained as the company with the highest value of traded stocks since the market opened for business this till yesterday after trading 7.4 billion units of its securities for N4.6 billion.

Niger Delta and Exploration Production (NDEP) Plc trailed with 8.8 million units of its securities valued at N2.7 billion, while CSCS Plc has transacted 201.5 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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