Unlisted Stock Investors in Nigeria Lose N20bn in One Day

April 21, 2022
unlisted stock investors

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange plunged by 2.2 per cent on Wednesday, April 20 as negative price movements from 11 Plc and FrieslandCampina WAMCO Nigeria Plc dragged the bourse down for a consecutive trading session.

At the midweek session, the energy company, 11 Plc, lost 11.1 per cent or N20.8 drop to sell at N187.20 per unit compared with the preceding day’s N208.00 per unit, while Friesland declined by 8.2 per cent or N14.95 to settle at N182.80 per share in contrast to the previous closing price of N197.75 per share.

The losses suffered by the duo depleted the market capitalisation by N20 billion to wrap the day at N1.00 trillion in contrast to the N1.02 trillion it closed in the preceding session.

Following the same trend, the session ended with the NASD Unlisted Securities Index (NSI) decreasing by 18.61 points to wrap the session at 761.77 points compared with 778.58 points recorded in the previous session.

As for the activity chart, there was a slump in the volume of securities traded at the bourse during the session by 86.6 per cent to 287,417 units from 2.1 million units traded a day earlier.

Also, the value of securities transacted by unlisted stock investors went down by 88.4 per cent to N44.9 million from N387.7 million, while the number of deals increased by 19.2 per cent to 31 deals from the 26 deals posted on Tuesday.

At the close of transactions, AG Mortgage Bank Plc was the most traded stock by volume on a year-to-date basis with 2.3 billion units worth N1.2 billion, trailed by Central Securities Clearing System (CSCS) Plc with the sale of 660.7 million valued at N13.9 billion, and NASD Plc with a turnover of 43.3 million units valued at N466.6 million.

On the flip side, CSCS Plc was the most active stock by value on a year-to-date basis with 660.7 million units exchanged for N13.9 billion, followed by AG Mortgage Plc with 2.3 billion units worth N1.2 billion, and Frieslandwith the sale of 5.1 million units valued at N716.4 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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