Unlisted Securities Market Falls 0.73%

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange closed Tuesday’s trading session with a negative movement.

At the second session for the week, the NASD Unlisted Securities Index (NSI) fell by 0.73 percent equivalent to 5.22 points to end the day at 711.74 points compared to 716.96 points recorded at the previous session on Monday.

Also contracting was the market capitalisation, which depreciated by 0.73 percent or N3.83 billion to N522.82 billion as against the previous level of N526.65 billion.

This contraction at the market yesterday was caused by a drop in the share price of the market’s only decliner, Central Securities Clearing Systems (CSCS) Plc.

The securities depository company recorded a decline of N1.45 equivalent to 10.7 percent to close at N13.53 per share as against N14.95 per share it previously quoted.

Business Post reports that there was a price gainer on Tuesday, though its appreciation could not save the market from slipping to danger zone.

The share price of FrieslandCampina WAMCO Nigeria Plc appreciated yesterday by 2.81 percent or N3.50 to N124.36 per share from N120.86 per share it previously sold.

There was a rise in the total volume of securities traded on Tuesday by 260.8 percent as a total of 38,245 units were traded compared with the 10,600 units of securities traded at the previous session.

These came from 11 deals executed from three stocks during the session at the exchange on securities belonging to CSCS Plc (five deals), FrieslandCampina WAMCO Nigeria Plc (four deals) and Niger Delta Exploration and Production (NDEP) Plc (two deals).

All the shares traded at the session amounted to N7.4 million, 497.50 percent lower than the N1.2 million achieved at the previous session.

ARM Life Plc closed the session as the company with the highest volume of traded shares (year-to-date) with 7.4 billion units worth N4.6 billion, while CSCS Plc traded 196.8 million units worth N2.6 billion, with Food Concept Plc transacted 115 million units of its shares worth N80.5 million.

Also, ARM Life Plc remained as the most active stock by value (year-to-date) with 7.4 billion units of its shares worth N4.6 billion. CSCS Plc followed with 196.8 million units exchanged for N2.6 billion, while NDEP Plc trailed with 7.9 million units of its securities valued at N2.4 million.