Unlisted Stock Investors Lose N4.90bn in Five Days

By Dipo Olowookere

It was a bearish outcome at the NASD over-the-counter (OTC) Securities Exchange last week as the platform depreciated by 0.53 per cent week-on-week due to profit-taking.

This shrank the portfolios of unlisted stock investors in the five-day trading week by N4.90 billion as the market capitalisation of the bourse ended the week at N924.06 billion, in contrast to the preceding week’s N928.96 billion.

In the same vein, the NASD unlisted securities index (NSI) decreased in the fourth trading week of the year by 3.74 points to 703.23 points from 706.97 points.

Data obtained by Business Post showed that selling pressure on the trio of UBN Property Plc, NASD Plc, and FrieslandCampina Plc weakened the alternative stock exchange last week.

UBN Property shed 10.26 per cent to trade at 70 Kobo per unit compared with the previous week’s 78 Kobo per unit, NASD fell by 3.88 per cent to close at N62.48 per share versus the earlier week’s N65.00 per share, and FrieslandCampina lost 2.99 per cent to finish at N65.00 per unit, in contrast to the preceding week’s N67.00 per unit.

They neutralised the 19.51 per cent growth posted by Geo-Fluids Plc in the week. The share price of the company ended the trading week at 98 Kobo per share compared with the earlier week’s 82 Kobo per share.

In the third trading week of the year, the value of transactions increased by 110.05 per cent to N87.6 million from N41.7 million, the volume of trades rose by 157.12 per cent to 62.6 million securities from 24.3 million securities, and the number of deals jumped by 9.23 per cent to 61 trades from 65 trades.

The most active stock by value was Geo-Fluids with the sale of N36.5 million, followed by NASD with N23.5 million, UBN Property with N14.0 million, FrieslandCampina with N7.0 million, and Central Securities Clearing System (CSCS) Plc with N3.1 million.

On the flip side, the most traded stock by volume in the week was Geo-Fluids with the sale of 40.3 million units, UBN Property traded 20.0 million units, NASD exchanged 1.9 million units, CSCS sold 237,266 units, and FrieslandCampina traded 108,169 units.