Unlisted Securities Market Extends Losses by 0.22%

By Adedapo Adesanya

The unlisted securities market further extended its losses on Wednesday after Niger Delta Exploration and Production (NDEP) Plc and Central Securities Clearing System (CSCS) Plc battered the exchange by 0.22 per cent.

NDEP depreciated by N18.00 or 9.05 per cent to N181.00 per unit from N199.00 per unit, while CSCS Plc went down by 51 kobo or 3.41 per cent to N14.44 per unit from N14.95 per unit.

In the midst of the bearish sentiment, the NASD over-the-counter (OTC) Securities Exchange recorded two price gainers and the were NASD Plc and FrieslandCampina WAMCO. While the former gained 36 kobo or N2.46 per cent to settle at N15.00 per share compared with the previous day’s N14.64 per share, the latter appreciated by N1.76 or 1.81 per cent to settle at N98.76 per unit in contrast to Tuesday’s value of N97.00 per unit.

But when the market closed for the session, the value of stocks on the platform went down by N2.22 billion to N1.006 trillion from N1.008 trillion, while the NASD Unlisted Securities Index (NSI) decreased by 1.68 points to wrap the session at 764.46 points compared with 766.14 points recorded in the previous session.

There was a swell in the volume of securities traded at the bourse during the midweek session by 216.3 per cent to 778,677 units from 246,172 units. Also, the value of shares traded yesterday rose by 35.9 per cent to N21.0 million from N15.5 million, while the number of deals increased by 158.3 per cent to 31 deals from 12 deals.

AG Mortgage Bank Plc remained the most traded stock by volume on a year-to-date basis with 2.3 billion units valued at N1.2 billion, CSCS Plc stood in second place with 673.5 million units worth N14.1 billion, while Food Concepts Plc was in third place with 146.0 million units valued at N126.7 million.

Also, CSCS Plc, with the sale of 673.5 million units for N14.1 billion, finished the day as the most active stock by value on a year-to-date basis. VFD Group was in second place with 9.6 million units valued at N3.0 billion, while FrieslandCampina WAMCO Nigeria Plc has transacted 9.6 billion units worth N1.2 billion to occupy third place.