Sat. Nov 23rd, 2024

Unlisted Securities Market Grows 1.92% Monday

Unlisted Securities Market

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange market size and index were boosted by 1.92 percent on Monday, June 15.

The lifting of the unlisted securities market yesterday was supported by the gains printed by stocks belonging to market bellwether, FrieslandCampina WAMCO Nigeria Plc.

FrieslandCampina saw its share price rise N9.56 at the bourse to N122.75 per share from N113.19 per share it previously traded.

The positive performance of the milk maker pushed the market capitalisation up by N9.61 billion to N510.95 billion from N501.34 billion it finished last Thursday. The market was closed last Friday due to the Democracy Day holiday observed in the country.

Following the same trend, the NASD Unlisted Security Index (NSI) also appreciated by 13.09 points to close at 695.58 points as against 682.48 points it ended at the previous session.

During Monday’s session, the total volume of securities transacted by investors increased by 13.2 percent to 12,400 units from the last session’s 10,950 units.

The trades were carried out in eight deals from FrieslandCampina WAMCO Nigeria Plc (six deals), Afriland Properties Plc and Food Concept Plc (one deal each).

Yesterday, the value of stocks transacted by market participants went down by 60.5 percent to N1.3 million from N3.3 million realized at the previous session. An analysis showed that FrieslandCampina accounted for N1.29 million, Afriland Plc accounted for N1,100, while Food Concept accounted for N700.

ARM Life Plc closed the session as the company with the highest number of traded stocks (year-to-date) with 7.4 billion units of its shares sold for N4.6 billion. Central Securities Clearing Systems (CSCS) Plc was in second place with 195.8 million units worth N2.6 billion, while Food Concept Plc held the third position with 110 million units of its shares worth N77 million.

ARM Life Plc also ended yesterday as the most active stock by value (year-to-date) with 7.4 billion units of its securities traded for N4.6 billion, while CSCS Plc followed with 195.6 million units exchanged for N2.6 billion, with Niger Delta Exploration and Production (NDEP) Plc trading 7.8 million units of its securities valued at N2.4 billion.

By Adedapo Adesanya

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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