Unlisted Securities Exchange Market Loses N2.88bn

The NASD Over-the-Counter Securities Exchange market depreciated by N2.88 billion by the close of trading on Tuesday.

The market capitalisation of Nigeria’s unlisted stocks depreciated yesterday by N2.88 billion to N973.51 billion from N976.39 billion, while the NASD Unlisted Securities Index (NSI) decreased by 2.19 points to 739.51 points from 741.70 points.

The unlisted securities market plunged into the bears’ territory during the session despite the presence of a price gainer in Niger Delta Exploration and Production (NDEP) Plc, which improved by N4.00 to close at N199.00 per share compared with the previous day’s N195.00 per share.

The loss reported yesterday was impacted by the decline in the share price of 11 Plc. The energy firm lost N10 to close at N170.00 per unit versus the N180.00 per unit it closed on Monday.

Yesterday, the level of activity depreciated as investors only transacted 24,170 units of securities compared with the 25.0 million units of securities traded a day earlier, indicating a decline of 99.9 per cent.

Also, the value of transactions went down by 96.6 per cent to N4.6 million from the N135.2 million posted on Monday, while the number of deals declined by 18.2 per cent to nine deals from the 11 deals achieved a day earlier.

AG Mortgage Plc remained the most traded stock by volume on a year-to-date basis with the sale of 2.3 billion units worth N1.2 billion, Central Securities Clearing System (CSCS) Plc maintained second place with 687.5 million units valued at N14.3 billion, while Mixta Real Estate Plc was in third place with 178.1 million units worth N313.4 million.

Also, CSCS Plc was the most traded stock by value on a year-to-date basis with a turnover of 687.5 million units valued at N14.3 billion, VFD Group Plc was in second place with 27.7 million units worth N7.4 billion, while FrieslandCampina WAMCO Nigeria Plc was in third place with 14.3 million units valued at N1.7 billion.