Unlisted Securities Market Records no Movement Thursday

December 13, 2019
Unlisted Securities Market

By Adedapo Adesanya

The market for the trading of unlisted securities in Nigeria, the NASD Over-the-Counter (OTC) Securities Exchange, closed flat on Thursday, December 12, 2019 as key market parameters recorded no movement.

This indicated that the NASD Unlisted Security Index (NSI) closed Thursday’s session at 693.22 points, the same figures printed on Wednesday, while the market capitalisation remained at N498.04 billion.

However, the volume of securities exchanged by investors at the bourse saw a sharp reduction to 220,933 units from 628,568 units exchanged at the previous session, indicating a decline of 407,635 units equivalent to 64.9 percent.

In the same vein, the value of the securities transacted on Thursday dropped to N45.4 million from N77.8 billion it rose to on Wednesday, representing N32.4 million or 41.7 percent decline.

However, the total number of deals recorded at the NASD Exchange yesterday increased to 9 deals from 7 deals. There was no movement in the prices of shares on the exchange at the close of business.

At the exchange, Central Securities Clearing System (CSCS) Plc remained the most active stock by value (year-to-date) with 202,272,698 units worth N2.53 billion transacted, while UBN Properties followed on the list with 884,529,600 units of its stocks sold for N1.2 billion.

But when viewed in terms of most traded by volume (year to date), Food Concept Plc dominates the chart with 1,158,828,284 units of its shares traded for N844 billion, while UBN Properties followed with 941,318,597 units worth N1.27 billion.

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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