Unlisted Securities Record First W-o-W Loss in Nine Weeks

June 10, 2024
unlisted securities index

By Adedapo Adesanya

For the first time in nine weeks, the NASD Over-the-Counter (OTC) Securities Exchange posted its first week-on-week loss in nine weeks last week after closing lower by 3.6 per cent.

The unlisted securities market finished in the negative territory in Week 23 as a result of profit-taking activities by investors, who recalibrated their investment portfolios in light of attractive yields in the fixed-income market.

Consequently, the market capitalisation decreased by 75 billion in the five-day trading week to N2.036 trillion from the N2.111 trillion achieved in the previous week, and the NASD Unlisted Security Index (NSI) went down by 55.07 points to 1,486.12 points from the 1,541.19 points quoted in Week 22.

Business Post reports that FrieslandCampina Wamco Nigeria Plc topped the losers’ chart in the week after going down by 20.1 per cent to N41.34 per share from the previous week’s N51.71 per share, Aradel Holdings Plc depleted by 5.7 per cent to close at N4,755.17 per unit versus the preceding week’s N5,044.39 per unit, and Geo-Fluids Plc shrank by 4.3 per cent to N2.00 per share from N2.09 per share.

Conversely, Central Securities Clearing System (CSCS) Plc gained 7.4 per cent to end at N19.99 per unit versus N18.61 per unit, and Afriland Properties Plc increased by 2.9 per cent to N17.70 per share from N17.20 per share.

The total volume of transactions last week rose by 60.3 per cent to 6.8 million units from 4.2 million units, while the total value of trades plunged by 72.6 per cent to N720 million from N2.64 billion, and the number of deals went down by 23.4 per cent to 236 trades from 308 deals.

UBN Property Plc was the most traded security by volume with 2.8 million units, Geo-Fluids Plc exchanged 2.6 million units, FrieslandCampina Wamco Nigeria Plc recorded 0.77 million units, Afriland Properties Plc sold 0.35 million units, and CSCS Plc traded 0.17 million units.

Aradel Holdings closed as the most active stock by value in the week with N669.4 million, FrieslandCampina Wamco Nigeria Plc posted N35.4 million, Afriland Properties Plc recorded N5.8 million, Geo-Fluids Plc achieved N5.0 million and UBN Property Plc transacted N4.6 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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