Unlisted Securities Market Falls 0.27% at Midweek

By Adedapo Adesanya

After closing bullish for two straight sessions this week, the NASD Over-the-Counter (OTC) Securities Exchange succumbed to selling pressure.

Data obtained by Business Post showed the unlisted securities market closed with its tail between its legs by 0.27 per cent on Wednesday.

This occurred as a result of the poor performance of a bellwether yesterday, Central Securities Clearing Systems (CSCS) Plc.

Its performance overshadowed the only price gainer of the session, FrieslandCampinaWAMCO Nigeria Plc, which added 65 kobo to its share price to close N121.69 per share in contrast to N121.04 per share it finished on Tuesday.

At the midweek session, the share price of CSCS went down by 2.93 per cent or 41 kobo to N14 per share from N14.41 per share it closed at the previous session.

This contraction suffered by CSCS brought down the NASD unlisted securities index (NSI) by 1.93 points to 711.89 points from the preceding day’s 713.82 points.

It equally reduced the market capitalisation by N1.42 billion to close at N522.93 billion compared with N524.35 billion it ended on Tuesday.

At the market yesterday, the trading volume reduced significantly by 94.5 per cent to 291,387 shares from 5.3 million units, while the trading value decreased by 60.3 per cent to N5.3 million from N14.3 million.

These transactions on Wednesday were carried out in 12 deals compared with the 16 deals recorded at the previous trading session.

They were executed on the stocks of FrieslandCampina WAMCO Nigeria Plc (eight deals), CSCS Plc with two deals, and one deal each on Afriland Properties Plc and Niger Delta Exploration and Production (NDEP).

At the close of business, ARM Life Plc maintained its position as the most traded stock by volume (year-to-date) with 7.4 billion units of its shares traded for N4.6 billion. CSCS Plc was in second place with 197.5 million units traded at N2.6 billion, while Food Concept Plc followed in third place with 125 million units traded at N88 million.

In terms of the value of trades (year-to-date), ARM Life Plc still retained the top position with a total of 7.4 billion units worth N4.6 billion. CSCS Plc came in second place with 197.5 million units valued at N2.6 billion, while NDEP Plc followed on the third spot with 7.9 million units worth N2.4 billion.

Editor’s Note:

A correction was made to the fifth paragraph to indicate the correct closing price of CSCS stock.

We apologise for the error.