Economy

Unlisted Stocks Gain N1.58bn in Five Days

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange grew by N1.58 billion or 0.16 per cent in Week 35 and pushed the market capitalisation higher to N1.003 trillion from the preceding week’s N1.001 trillion.

Business Post reports that the positive outcome last week happened due to gains posted by four stocks in the five days of trading.

Niger Delta Exploration and Production (NDEP) Plc increased its value by 9.7 per cent to close at N209.00 per share in contrast to the previous week’s N190.50 per share, Afriland Properties Plc appreciated by 9.1 per cent to trade at N1.20 per share versus N1.10 per share, Central Securities Clearing System (CSCS) Plc rose by 2.9 per cent to N14.00 per unit to N14.40 per unit, while Citi Trust Holdings Plc improved by 2.0 per cent to settle at N13.10 per share compared with the preceding week’s N12.84 per share.

The growth printed by the quartet of unlisted stocks expanded the NASD OTC Securities Exchange Index by 1.2 basis points to 762.12 points from 760.92 points.

In the week, the trio of 11 Plc, Nipco Plc, and NASD Plc recorded losses, with 11 Plc declining by 5.6 per cent to trade at N170.00 per share as against the previous week’s N180.00 per share.

Nipco Plc depreciated by 3.3 per cent to sell for N58.00 per unit compared with the previous week’s N60.00 per unit, while NASD Plc went down by 2.5 per cent to N15.60 per share from N16.00 per share.

Last week, there was a 19.2 per cent decrease in the total value of trades to N144.3 million from N178.6 million, while the volume of transactions decreased by 571.3 per cent to 9.6 million units from 1.4 million units, with the number of deals going down by 20.8 per cent to 38 trades from 48 trades of the previous week.

CitiTrust Holdings Plc was the most traded security by volume with 9.1 million units, NASD Plc traded 295,200 units, Nipco Plc exchanged 100,000 units, CSCS Plc transacted 68,050 units, while Niger Delta Exploration and Production (NDEP) Plc traded 41,500 units.

Also, CitiTrust Holdings Plc was the most traded stock by value in the week with N118.8 million, NDEP Plc traded N8.3 million, Nipco Plc recorded N5.8 million, NASD Plc posted N4.6 million, while FrieslandCampina WAMCO Nigeria Plc expended N3.5 million.

In the year so far, NSI has posted year-to-date returns of 2.6 per cent, with investors trading 3.3 billion units worth N26.0 billion in 1,976 deals.

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