Unlisted Securities Market Shrinks by 0.34%

February 9, 2023
Unlisted Securities Market

By Adedapo Adesanya

Despite a surge in trading value and volume, the NASD Over-the-Counter (OTC) Securities Exchange ended in the negative territory on Wednesday, February 8, as it depreciated by 0.34 per cent.

Three price losers were responsible for the decline recorded by the unlisted securities market yesterday, with the value shrinking by N3.17 billion to N929.62 billion from the preceding session’s N932.79 billion.

In the same vein, the NASD Unlisted Securities Index (NSI) depreciated during the trading day by 2.42 points to end at 707.46 points compared with Tuesday’s 709.88 points.

Data showed that market participants executed 23 deals at the bourse during the session, 187.5 per cent higher than the eight deals carried out a day earlier.

There was a rise in the value of transactions recorded at the alternative exchange in the week session by 327.2 per cent to N17.6 million from the previous session’s N4.1 million.

Likewise, the volume of stocks traded by investors increased by 9,005.4 per cent as 2.7 million units were transacted, in contrast to the 30,068 units achieved on Tuesday.

NASD Plc lost N1.35 yesterday to trade at N13.00 per share versus the previous day’s N14.35 per share, Central Securities Clearing System (CSCS) Plc lost 50 Kobo to close at N13.00 per unit versus N13.50 per unit, while UBN Property Plc went down by 1 Kobo to finish at 74 Kobo per share compared with the 75 Kobo per share it was sold the prior session.

However, the share price of Capital Bancorp Plc appreciated on Wednesday by 4 Kobo to trade at N2.25 per unit versus Tuesday’s closing price of N2.21 per unit.

At the close of transactions, Geo-Fluids Plc was the most traded stock by volume on a year-to-date basis, with 321.2 million units valued at N317.2 million, followed by UBN Property Plc with 36.3 million units worth N26.1 million, and NASD Plc with 3.0 million units valued at N36.6 million.

The most active stock by value on a year-to-date basis was also Geo-Fluids Plc for trading 321.2 million units worth N317.2 million, trailed by FrieslandCampina WAMCO Group Plc with 2.5 million units valued at N161.8 million, and VFD Group Plc with 561,810 units worth N137.0 million.

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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