Unlisted Securities Traders Lose N8.43bn in Week 18

By Adedapo Adesanya

Those trading unlisted securities in Nigeria lost N8.43 billion last week, which was the 18th for the year, data obtained by Business Post revealed.

It was the first weekly loss the NASD Over-the-Counter (OTC) Securities Exchange was recording in the past few weeks and it was by 1.5 per cent.

As a result, the NASD Security Index (NSI) dipped by 11.86 points to close the week at 778.03 points compared to 789.89 points of the previous week.

In the same vein, the market capitalization close reduced by N8.43 billion to finish at N553.03 billion in contrast to N561.46 billion it ended the preceding week.

The bearish outcome was propelled by the Nigerian Exchange (NGX) Group Plc, which lost 12.5 per cent to close at N26.48 per unit compared with the previous N30.26 per unit.

Niger Delta Exploration & Production (NDEP) Plc, which dropped 11.2 per cent to settle at N302.00 per share versus the previous N340.00 per share.

FrieslandCampina WAMCO Plc, which declined by 6.1 per cent to end at N134.00 per unit compared with the preceding week’s N142.64 per unit.

The market was not without price gainers as Central Securities Clearing System (CSCS) Plc appreciated by 8.1 per cent to trade at N18.11 per share in contrast to the previous N16.75 per share.

Nipco Plc improved in the week by 0.7 per cent to close at N69.50 per unit as against the preceding week’s N69.00 per unit.

In the week, there was a 37.3 per cent decrease in the value of transactions to N918.9 million from N1.5 billion, while the trading volume went down by 36.9 per cent to 34,751,553 units from 55,082,555 units, with the number of deals down by 22.9 per cent to 192 deals from 249 deals.

At the close of business for the week, NGX Group was the most traded security by volume with 33.7 million units. CSCS Plc traded 555,981 units, Air Liquide Plc transacted 208,440 units, Nipco Plc exchanged 110,000 units, while Industrial and General Insurance (IGI) Plc traded 110,000 units.

Also, NGX Group was the most traded stock by value in the week with N876.2 million. NDEP Plc traded N21.2 million, CSCS Plc transacted N10.2 million, Nipco Plc traded N7.6 million, while Friesland traded N2.4 million.

On a year-to-date basis, the NASD has increased by 4.9 per cent, while unlisted securities traders have transacted 225,692,320 securities valued at N5.7 billion in 1241 deals.