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Unlisted Securities Bourse Depletes by 0.45%

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By Adedapo Adesanya

The unlisted securities bourse depreciated by 0.45 per cent on Tuesday following the price decline suffered by Central Securities Clearing Systems (CSCS) Plc.

It was the first time the NASD Over-the-Counter (OTC) Securities Exchange was tasting a defeat this week and it was compounded by the mixed feelings investors had during the trading session.

Business Post reports that the NASD Unlisted Security Index (NSI) went down by 3.39 points yesterday to wrap the session at 745.23 points compared with 748.62 points of the previous session.

Also, the market capitalisation, which measures the total value of stocks on the exchange, declined by N2.8 billion to close the day at N615.69 billion as against the previous day’s N618.49 billion.

As earlier stated, CSCS Plc was responsible for the day’s bad performance as its share price depleted by 56 kobo or 3.2 per cent to settle at N17.34 per unit in contrast to N17.90 per unit it finished on Monday.

A look at how investors traded on Tuesday showed that the volume of securities bought and sold waned by 28.2 per cent to 694,636 units compared to the previous trading day’s 967,365 units.

However, the value of the transactions increased by 11.9 per cent to N12.0 million from N10.8 million, while the number of deals remained flat at 10 deals.

When the market closed for the day, Food Concepts Plc remained as the most traded stock by volume (year-to-date) with 11.4 billion units of its shares worth N14.4 billion. The second spot was still maintained by Lighthouse Financial Service Plc with 1.1 billion units valued at N546.2 million, while the third spot was still occupied by Geo Fluids Plc with 1.0 billion units worth N700.1 million.

In the same vein, Food Concepts Plc remained the most active stock by value (year-to-date) for the sale of 11.4 billion units of its securities worth N14.4 billion, followed by Nigerian Exchange (NGX) Group Plc with 456.5 million units valued at N9.2 billion, and VFD Group Plc for trading 10.4 million units worth N3.5 billion.

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