Unlisted Securities Market Ends in Stalemate Despite NDEP Loss

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange closed flat on Tuesday, January 25 despite recording a price loser at the close of transactions.

The depreciating stock was Niger Delta Exploration and Production (NDEP) Plc, which recorded a 0.04 per cent or 10 kobo loss to close the session at N234.90 per share as against N235.00 per share it ended a day earlier.

As earlier stated, despite this, the major performance indicators of the unlisted securities market remained unchanged when trading activities were wrapped up for the day.

Consequently, the market capitalisation of the NASD Exchange retained the previous value of N622.22 billion, while the NASD Unlisted Securities Index (NSI) remained unchanged at 734.81 points.

Analysis of the trading data showed that the volume of stocks transacted by market participants on Tuesday depreciated by 0.9 per cent as a total of 110,286 units of securities exchanged hands in contrast to the 111,347 units of securities transacted at the opening session of the week.

However, the value of shares exchanged by traders appreciated by 425.9 per cent to N25.1 million from N4.8 million recorded at the previous session.

But the total number of deals executed by investors yesterday went down by 28.6 per cent as five deals were performed at the exchange compared with the seven deals printed on Monday.

When the market closed for the day, CSCS Plc remained as the most traded stock by volume on a year-to-date basis with a turnover of 653.7 million units sold for N13.7 billion. VFD Group Plc came next with 916,161 units valued at N331.5 million, while Friesland Campina WAMCO Nigeria Plc has so far traded 238,232 units valued at N28.1 million.

In terms of the most traded stock by value on a year-to-date basis, CSCS also topped the chart with the sale of 653.7 million units of its shares worth N13.7 billion. It was also followed by VFD Group Plc with the sale of 916,161 units valued at N331.5 million, while the day’s single price decliner, NDEP Plc, occupied third place with a turnover of 156,289 units traded for N36.8 million.