Nigeria’s Unlisted Securities Market Sheds 1.55%

By Adedapo Adesanya

Depreciation in the stock prices of FrieslandCampina WAMCO Nigeria Plc, Central Securities Clearing Systems (CSCS) Plc, and Nigerian Exchange Group depressed the NASD Over-the-Counter (OTC) Securities Exchange on Friday, July 23.

Yesterday, Nigeria’s unlisted securities market depreciated by 1.55 per cent at the close of transactions, with investors losing N10.33 million. This weakened the market capitalisation to N655.73 billion from N666.06 billion it finished on Thursday.

Also, the NASD Unlisted Security Index (NSI) shed 11.88 points at the close of business to end the day at 754.43 points as against 766.31 points it recorded at the previous session.

Business Post reports that Friesland lost 6.6 per cent or N7.92 to settle at N120.08 per share compared to N128.00 per cent of the previous session.

CSCS Plc depreciated by 2.7 per cent or 50 kobo to close at N18.50 per unit in contrast to N19.00 per unit of the preceding day, while NGX went down by 0.3 per cent or 5 kobo to close the day at N17.13 per share versus N17.18 per share it ended on Thursday.

When the market closed for the day, the number of shares transacted by investors increased by 1.1 per cent to 2.6 million units from 2.6 million units, the value of shares rose by 54.1 per cent to N71.7 million from N46.5 million, while the number of deals increased by 19.2 per cent to 31 deals from 26 deals.

With 1.0 billion units of its shares traded for N700.1 million, Geo Fluids Plc ended the session as the most active stock by volume (year-to-date). NGX Group Plc followed with 348.2 million units valued at N7.5 billion, while Swap Technologies & Telecomms Plc occupied third place with 46.6 million units worth N41.0 million.

However, NGX Group finished the session as the most active stock by value (year-to-date) for trading 348.2 million units for N7.5 billion, VFD Group Plc remained in the second spot with 4.1 million units valued at N1.3 billion, while NDEP Plc has traded 3.2 million units valued at N976.2 million.

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