Unlisted Securities Market Size Down to N514.94bn

By Adedapo Adesanya

It was a negative outcome on Monday, June 22, for securities trading on the NASD Over-the-Counter (OTC) Securities Exchange.

In the first session for the week, market capitalisation fell by 0.53 percent or N2.75 billion to N514.94 billion from the N517.69 billion it rose to last Friday.

Also, contracting yesterday was the NASD Unlisted Security Index (NSI), which fell by 0.53 percent or 3.75 points to end the day at 701.01 points from 704.76 points recorded at the previous session.

This contraction was caused by a drop in the share price of the Central Securities Clearing System (CSCS) Plc. Securities of the depository company declined by 55 kobo to N13.00 per share from N13.55 per share of the previous trading day.

During the market day, there was a rise in the total volume of securities traded by investors. A total of 5.7 million units were traded in contrast to the previous trading volume of 9,120 units, representing a 62,680 percent spike.

These transactions were carried out from seven deals, with CSCS Plc doing four and the Niger Delta Exploration and Production (NDEP) Plc, FrieslandCampina WAMCO Nigeria Plc, and Afriland Properties Plc doing one each.

These trades amounted to N18.6 million on Monday, 749 percent higher than the N2.2 million worth of stocks transacted last Friday.

ARM Life Plc closed the session as the most active stock by volume (year-to-date) with 7.4 billion units of its shares traded for N4.6 billion in the period under review. CSCS Plc was in second place with 196.6 million units worth N2.6 billion, while Food Concept Plc held the third position with 110 million units of its shares worth N80.5 million.

The most active equity at the NASD Exchange by value (year-to-date) was still ARM Life Plc, which has traded 7.4 billion units of its shares worth N4.6 billion. CSCS Plc followed with 196.6 million units exchanged for N2.6 billion, while NDEP Plc stood in third place with 7.9 million units of its securities valued at N2.4 million.