Unlisted Stocks Open July in Bearish Territory

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange opened the new month in the bearish territory on Thursday, July 1 following a negative movement in the equity price of Central Securities Clearing Systems (CSCS) Plc.

The shares of CSCS Plc, which recorded a 16 kobo depreciation to sell at N18.34 per unit compared to N18.50 per unit of the previous session, overshadowed the gains posted by two other unlisted stocks.

Nigerian Exchange (NGX) Group Plc appreciated by 16 kobo to close at N17.28 per unit versus N17.12 per unit of the previous day, while Niger Delta Exploration and Production (NDEP) Plc grew by one kobo to N280.01 per unit from the previous N280 per unit.

At the close of business, the market capitalisation went down by 0.15 per cent or N740 million to close at N535.78 billion in contrast to N536.52 billion it finished on Wednesday.

Also, the NASD Unlisted Security Index (NSI) shed 1.12 points to end the day at 753.76 points as against 754.88 points it recorded at the previous session.

During the session, the volume of securities traded at the bourse by investors reduced by 92.2 per cent to 3.3 million units from the 42.1 million units achieved at the midweek session.

However, the value of the shares increased by 45.3 per cent to N85.7 million from N59.0 million, while the number of deals increased by 6.7 per cent to 48 deals from 45 deals of the prior trading day.

NGX Group finished the day as the most active stock by volume on a year-to-date basis with the sale of 301.0 million units valued at N6.7 billion. It was followed by Swap Technologies & Telecomms Plc, which has traded 46.6 million units worth N41.0 million and Acorn Petroleum Plc, which has transacted 41. 4 million units worth N7.0 million.

Also, NGX Group ended the session as the most active stock by value on a year-to-date basis with the sale of 301.0 million units worth N6.7 billion. It was trailed by Niger Delta Exploration and Production (NDEP) Plc, which has transacted 3.0 million units worth N952.3 million and FrieslandCampina WAMCO Nigeria, which has traded 6.1 million units valued at 767.4 million.