Unlisted Securities Market Plunges by 0.40%
By Adedapo Adesanya
Transactions on the floor of the NASD Over-the-Counter (OTC) Securities Exchange closed bearish by 0.4 per cent on Tuesday as a result of a slump in the price of shares of FrieslandCampina WAMCO Nigeria Plc.
The milk maker, which has been the most active stock in the unlisted securities market this year, lost N1.95 yesterday to settle at N68.00 per unit compared with the previous day’s value of N69.95 per unit.
As a result, it shortened the market capitalisation of the bourse by N3.81 billion to N942.76 billion from N946.57 billion and cropped the NASD Unlisted Securities Index (NSI) by 2.89 points to 717.47 points from the 720.36 points recorded in the previous session.
During the trading day, there was a rise in the volume of securities by 160.8 per cent to 192,056 units from 73,646 units, the value of transactions improved by 245.5 per cent to N14.5 million from the N4.2 million reported a day earlier, and the number of deals increased by 125.0 per cent to nine deals from the four deals carried out on Monday.
The most active stock by volume on a year-to-date basis remained AG Mortgage Bank Plc with the sale of 2.3 billion units of its stocks valued at N1.2 billion, followed by Central Securities Clearing System (CSCS) Plc with a turnover of 687.8 million units worth N14.3 billion, while Mixta Real Estate Plc was in third place with the sale of 178.1 million units valued at N313.4 million.
The most traded stock by value on a year-to-date basis was still CSCS Plc with a turnover of 687.6 million units worth N14.3 billion, trailed by VFD Group Plc with a turnover of 29.1 million units of its stocks valued at N7.7 billion, while FrieslandCampina WAMCO Nigeria Plc was in third place with the sale of 15.4 million units valued at N1.8 billion.