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Unlisted securities: Investors lose N26.39m in one week

By Nkiruka Nnorom

Investors that trade on unlisted securities on NASD OTC Securities Exchange Plc lost N26.39 million of their investment in the market last week as apathy continues to pervade the entire capital market.

Breakdown of weekly transaction in the over-the-counter market showed that the market capitalisation of the 24 securities listed for trading via the platform fell to N355.02 billion as against N381.41 billion recorded in the previous week, representing 6.92 per cent decline.

Similarly, the Unlisted Securities Index (USI) nose-dived by 6.92 per cent dropping to 598.78 points as against the previous close of 643.30 points it began the week at.

Also, volume traded fell by 46.62 per cent from 3.09 million units to 1.65 million units while the total value of shares traded rose by 204.74 per cent from ¦ 29.95 million to ¦ 82.13 million in 31 deals. Data from the Securities Exchange indicate that a total of five securities were traded out of the 24 securities admitted to trade on the NASD OTC market during the week. The shares of Friesland Campina Wamco Nigeria Plc, Central Securities Clearing System (CSCS), Nigeria Delta Exploration & Production Plc (NDEP), Afriland Properties Plc and SWAP Technologies and Telecomms Plc emerged the top traded securities for the week by volume and value traded.

Specifically, CSCS emerged the top traded stock by volume, trading one million units, valued at N5.9 million in one deal, Wamco followed with 649,530 units worth N76.13 million executed in 25 deals.  NDEP closed as the third most traded stock with 720 units worth N104, 277 in three deals; Afriland Properties Plc trailed behind with 100 units valued at N210.00 in one deal, while SWAP Technologies closed as the last on the top five top securities with 100 units valued at N97.00 in one deal.

Data from the Securities Exchange further showed that year-to-date, it has dematerialised 15.41 per cent or 16.18 billion of share certificates in the OTC market, while volume traded within the period stood at 1.49 billion. Value traded within the one year period stood at N50.71 billion, while the total deal closed at 2,114 deals.


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