Unlisted Securities Market Records N42.5m Trades Friday

NASD Unlisted Securities Index

By Adedapo Adesanya

Securities worth N42.5 million were transacted on Friday, July 10 at the NASD Over-the-Counter (OTC) Securities Exchange.

The value of the trades was a 2,936 per cent higher than the N1.4 million worth of shares exchanged by investors at Thursday’s trading session.

During the final trading session of the week, investors traded 10.3 million stocks at the OTC market compared to the previous day’s 71,446 units, representing a 14,317.5 per cent boost.

Despite the improvements in the trading volume and value, the unlisted securities market declined by 0.20 per cent yesterday as both the NASD market capitalisation and index recorded declines.

The NASD Unlisted Security Index (NSI) dropped 1.45 points to 707.77 points from the previous session’s 709.22 points.

Equally, the market size fell by N1.07 billion, closing at N519.90 billion compared to N520.97 billion recorded at the previous session.

Business Post reports that the depreciation experienced at the NASD OTC market on Friday was due to drop in the price of FrieslandCampina WAMCO Nigeria Plc, which fell by N1.39 or 1.15 per cent to quote at N121 per share in contrast to Thursday’s N122.39 per share.

The unlisted securities market recorded a price gainer on Friday and this was Food Concept Plc, which had its share value growing by 5 kobo equivalent to 6.67 per cent, closing at 75 kobo per share in contrast to 70 kobo it was traded at the last session.

Yesterday, according to data from the exchange, the number of deals executed by market participants declined by 28.6 per cent to five deals from the previous trading day’s seven deals.

These deals involved three stocks at the exchange; FrieslandCampina WAMCO Plc (three deals), Food Concept Plc and VFD Group Plc (one deal each).

On the activity chart, ARM Life Plc closed the session as the company with the highest number of stocks traded year-to-date with 7.4 billion units sold for N4.6 billion. It was followed by Central Securities Clearing Systems (CSCS) Plc, which has transacted 196.9 million units for N2.6 billion, and Food Concept Plc, which has exchanged 125 million units of its shares worth N88 million.

Also, ARM Life Plc closed the trading day as the company with the highest value of securities transacted from January 2 till yesterday. The insurance firm has traded 7.4 billion units of its shares worth N4.6 billion at the bourse. It was trailed by CSCS Plc, which has transacted 196.9 million units worth N2.6 billion, while Niger Delta Exploration & Production (NDEP) Plc has sold 7.9 million units of its securities valued at N2.4 million.

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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