Unlisted Securities Market Rebounds by 0.36%

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange erased some losses made on Tuesday and Wednesday by rebounding by 0.36 per cent on Thursday.

This was spurred by 11 Plc, which changed the course of the unlisted securities market with a 6.4 per cent or N12.80 increase in its equity value to close at N200.00 per share compared with the previous closing price of N187.20 per share.

The increase in its stock price was due to the demand by investors following the proposal of the board for the payment of a dividend of N8.50 to its shareholders.

The energy firm overshadowed the losses posted by FrieslandCampina WAMCO Nigeria and Afriland Properties Plc as the former lost 89 kobo or 0.49 per cent to sell at N181.91 per unit compared with Wednesday’s closing price of N182.20 per unit, while the latter depreciated by 8 kobo or 8.0 per cent to N1.00 per share from N1.08 per share.

But at the close of trades, the market capitalisation of the exchange went up by N3.63 million to N1.005 trillion from N1.001 trillion, while the NASD Unlisted Securities Index (NSI) jumped by 2.77 points to 764.54 points from 761.77 points.

During the session, the volume of securities traded by investors rose by 10.8 per cent to 318,566 units from 287,417 units, the value of securities went down by 47.7 per cent to N23.5 million from N44.9 million, while the number of deals depreciated by 61.3 per cent to 12 deals from 31 deals.

AG Mortgage Plc was the most traded stock by volume (year-to-date) for selling 2.3 billion units valued at N1.2 billion, Central Securities Clearing System (CSCS) Plc stood in second place with 660.7 million units worth N13.8 billion, while NASD Plc was in third place with 43.3 million units valued at N466.6 million.

However, CSCS Plc was the most traded stock by value (year-to-date) for trading 660.7 million units worth N13.9 billion, AG Mortgage Plc was in second place with 2.3 billion units valued at N1.2 billion, while FrieslandCampina WAMCO Plc in third place has 5.1 million units valued at N725.0 million.