By Adedapo Adesanya
The unlisted securities market in Nigeria appreciated by 1.51 per cent on Tuesday on the back of the gains reported by three stocks on the platform.
The demand for the three stocks on the NASD Over-the-Counter (OTC) Securities Exchange yesterday lifted the bourse from the flat territory it landed the preceding session.
At the close of transactions, the NASD Unlisted Securities Index (NSI) increased by 10.75 points to 721.48 points from the 710.73 points it closed the previous session.
Likewise, the market capitalisation of the NASD Exchange increased by N7.64 billion to close the day at N512.84 billion in contrast to N505.26 billion it finished a day earlier.
Business Post reports that the unlisted shares responsible for the day’s positive performance were VFD Group Plc, FrieslandCampina WAMCO Nigeria Plc and Central Securities Clearing Systems (CSCS).
The share price of CSCS rose by 28 kobo or 1.9 per cent to N14.83 per unit from N14.55 per unit, Friesland gained N5.40 or 4.3 per cent to close at N130.90 per share in contrast to N125.50 per share, while VFD Group grew by N11.42 or 9.9 per cent to sell at N127 per share compared to the previous N115.58 per share.
On the activity chart, investors traded 669,100 units of shares, 197,858.6 per cent higher than the 338 units transacted at the previous session.
These trades were made in 16 deals, 1,500.00 per cent higher than the one deal recorded on Monday and they were carried out on CSCS Plc (12 deals), VFD Group Plc (2 deals) and Friesland (2 deals).
The transactions were worth N22.3 million, 20,546.1 per cent higher than the N108,160 achieved at the previous session.
It was observed that the market closed the second trading session of the week with no price decliner.
But UBN Property remained as the most active stock by volume (year-to-date) for trading 21.9 million units of its shares for N24.6 million. CSCS Plc was in second place with 7.6 million units worth N117.5 million, while Friesland held the third position with 2.9 million units of its shares worth N363.6 million.
However, the most traded stock by value (year-to-date) was Friesland with the sale of 2.9 million units of securities valued at N363.6 million. NDEP Plc remained in the second spot with 697,187 units of its securities valued at N222.4 million followed by CSCS Plc with 7.6 million units valued at N117.5 million.
The blockchain brings new financing options to the business market. For example, Bitcoin Cash casino has adapted to only using cryptocurrency. This way, it makes it easier for their customers to deposit and withdraw in a BCH casino. Entrepreneurs have taken note of this and are looking to invest more in crypto than in fiat markets.
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