Unlisted Shares in Nigeria Further Trade Flat
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange extended its stay in the flat region on Tuesday after the stalemate recorded a day earlier.
As a result of this development, the market capitalisation of the NASD OTC Exchange remained unchanged at N529.09, while the NASD Unlisted Security Index (NSI) closed at 737.39 points, the same level it finished on Monday.
However, the activity chart further recorded movements yesterday as the volume of shares traded by market participants decreased by 83.3 per cent to 2,100 units from the 12,607 units of shares exchanged the previous day.
But there was a slight increase in the total value of shares transacted by traders on Tuesday as securities worth N289,800 exchanged hands compared with the N228,565 transacted at the preceding session, indicating a rise by 26.8 per cent.
Unlike the previous session, the number of deals significantly reduced as only a single deal was executed on Tuesday in contrast to the 11 deals achieved a day before, signifying a 90.91 per cent decline.
Analysis of the trade showed that the lone deal was carried out on shares of FrieslandCampina WAMCO Nigeria Plc, which retained its last trading value of N127.33 per share.
This means that there was no price advancer or decliner at the session at the unlisted securities market yesterday.
At the close of transactions, UBN Property Plc remained the most active stock by volume on a year-to-date basis with the sale of 15.1 million units of its securities valued at N16.3 million. It was trailed by CSCS Plc, which has transacted 1.4 million units of its securities valued at N22.1 million, and FrieslandCampina, which has exchanged 679,013 units valued at N84.2 million.
In terms of the most traded stock by value on a year-to-date basis, Niger Delta Exploration and Production (NDEP) Plc maintained its top spot with the sale of 247,650 units of its shares worth N86.2 million. FrieslandCampina was in second place with 679,013 units worth N84.2 million, while CSCS Plc held the third position with 1.4 million units of its shares worth N22.1 million.