Unlisted Securities Market Size Falls to N506.35bn

June 9, 2020
Unlisted Securities Market

By Adedapo Adesanya

It was a negative outcome for the unlisted securities market on Monday, June 8, 2020 as the NASD Over-the-Counter (OTC) Securities Exchange fell by 0.44 percent.

At the first trading session for the week, the market capitalisation of the exchange, which measures the market size, depreciated by N2.25 billion to settle at N506.35 billion in contrast to N505.76 billion it finished last Friday.

Also contracting yesterday was the NASD Unlisted Security Index (NSI). The index fell by 3.06 points to end the day at 689.32 points from 692.38 points recorded at the previous session.

It was observed that the contraction at the market on Monday was caused by the drop in the share price of Central Securities Clearing System (CSCS) Plc. The securities depository company recorded a 45 kobo decline in its share price to close at N13.05 per share as against N13.50 per share it previously quoted.

During the trading day, there was a drop in the total volume of securities traded by investors. A total of 133,450 units of shares were traded compared to the previous trading volume of 331,850 units, representing a decline of 59.8 percent.

In the same vein, the value of the trades went down by 90.8 percent to N7.6 million from N82.3 million worth of transactions executed last Friday at the NASD Exchange.

however, the number of deals improved by 16.7 percent as the market recorded seven deals yesterday from two stocks. While CSCS Plc achieved six deals, Niger Delta Exploration and Production (NDEP) Plc executed one deal.

ARM Life Plc closed the session as the company with the highest traded stocks (year-to-date). The company has traded 7.4 billion units of its shares worth N4.6 billion. CSCS Plc was in second place with 195.8 million units worth N2.6 billion, while Food Concept Plc held the third position with 110 million units of its shares worth N77 million.

The highest traded stock by value (year-to-date) at the close of transactions yesterday was still ARM Life Plc. The insurance company has traded 7.4 billion units of its shares worth N4.6 billion.

CSCS Plc, which followed, has traded 195.8 million units for N2.6 billion, while NDEP Plc has sold 7.6 million units of its securities valued at N2.4 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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