Unlisted Securities Market Records Weekly Loss of 0.73%

By Adedapo Adesanya

Three companies wreaked havoc on the NASD Over-the-Counter (OTC) Securities Exchange in the third trading week of this year, landing the bourse in the negative territory.

The trio of Nipco Plc, Central Securities Clearing Systems (CSCS) Plc, and Niger Delta Exploration and Production (NDEP) Plc depleted the exchange by 0.73 per cent week-on-week, according to data.

This means that the NASD Unlisted Securities Index (NSI) slid by 5.48 points to wrap the week at 744.54 points compared with 750.02 points recorded at the previous week, while the market capitalisation declined by N4.64 billion to close at N630.46 billion as against N635.10 billion of the second week of 2022.

Analysis showed that Nipco Plc lost 10.00 per cent last week to trade at N62.10 per share compared with the previous week’s N69.00 per share, CSCS Plc fell by 3.1 per cent to N19.38 per unit versus last week’s N20.00 per unit, while NDEP Plc went down by 1.3 per cent to N235.00 per share as against N238.00 per share of the preceding week.

Business Post reports that the unlisted securities market recorded a single price gainer in the week and this was FrieslandCampina WAMCO Nigeria Plc, which grew by 0.3 per cent to N118.30 per unit compared with the previous N118.00 per unit.

In terms of the activity level, the trading volume rose by 61,746.9 per cent to 653.8 million units from 1.1 million units, the trading value increased by 42,570.7 per cent to N14.1 billion from N32.9 million, while the number of deals dropped 10.00 per cent to 45 trades from 50 in the preceding week.

At the close of the week, CSCS Plc was the most traded stock by volume with 652.6 million units. VFD Group Plc traded 916,061 units, FrieslandCampina WAMCO Nigeria Plc exchanged 164,762 units, Nipco Plc transacted 45,208 units, while NDEP Plc traded 28,000 units.

In terms of the value of trades in the week, CSCS Plc also topped with N13.7 million, VFD Group Plc followed with N331.4 million, FrieslandCampina WAMCO Nigeria Plc posted N19.5 million, NDEP Plc recorded N6.6 million, while Nipco Plc raked in N2.8 billion.

In the year so far, investors have traded a total of 12.8 billion units of securities worth N654.9 million in 110 deals.