Business News

Four Stocks Push Unlisted Securities Bourse into Danger Zone

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange depreciated by 0.11 per cent on Thursday after the bears, backed by four stocks, defeated the bulls, which had two equities behind them.

This chopped off N1.16 billion from the market capitalisation of the unlisted securities bourse, closing at N1.069 trillion, in contrast to the preceding trading day’s N1.070 trillion.

In the same vein, the NASD Unlisted Securities Index (NSI) went down by 0.84 points to wrap the session at 772.92 points compared with 773.76 points in the previous session.

Four price losers were recorded during the session, with NASD Plc leading after it shed N1.30 to close at N12.65 per share versus the midweek session’s N13.95 per share.

Central Securities Clearing System (CSCS) Plc shed 24 Kobo to close at N16.76 per unit versus the N17.00 per unit it closed a day earlier, Geo-Fluids Plc lost 15 Kobo to settle at N2.90 per share compared with the previous day’s N3.05 per share, and Purple Real Estate Plc dropped 1 Kobo to sell at N5.20 per unit versus N5.21 per unit.

On the flip side, Nipco Plc chalked up N6.50 to trade at N71.50 per share versus Wednesday’s N65.00 per share, while FrieslandCampina Wamco Nigeria Plc appreciated by 5 Kobo to N74.00 per unit from N73.95 per unit.

Yesterday, the volume of securities traded at the bourse jumped by 86,702.9 per cent to 30.9 million units from 35,615 units, the value of shares traded by the market participants expanded by 48,636.7 per cent to N173.6 million from N356,111.00, and the number of deals grew by 250 per cent to 28 deals from eight deals.

CSCS Plc remained the most traded stock by volume (year-to-date) for trading 1.1 billion units worth N21.2 billion, followed by Geo-Fluids with 625.9 units valued at N1.1 billion, and Industrial and General Insurance (IGI) Plc was in third place with 608.3 million units worth N48.1 million.

Also, CSCS Plc was the most traded stock by value (year-to-date) as it traded 1.1 billion units valued at N21.2 billion, VFD Group has transacted 18.9 million units worth N4.2 billion, as FrieslandCampico Wamco Nigeria Plc has exchanged 17.6 million units for N1.3 billion.

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