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UBN Property, Friesland Crash Unlisted Securities Market by 0.99%

The unlisted securities market crashed by 0.99 per cent on Tuesday after the share prices of UBN Property Plc and FrieslandCampina WAMCO Nigeria Plc closed lower.

Business Post reports that the sell-off witnessed at the NASD Over-the-Counter (OTC) Securities Exchange yesterday weakened its value by N9.39 billion to N935.79 billion from the N945.18 billion it closed in the preceding session.

Also, the session ended with the NASD Unlisted Securities Index (NSI) decreasing by 7.15 points to wrap up at 712.16 points compared with 719.31 points recorded in the previous session.

During the trading day, FrieslandCampina Wamco Nigeria Plc lost N4.75 to settle at N67.75 per share, in contrast to Monday’s value of N72.50 per unit, while UBN Property Plc depreciated by 2 Kobo to sell at 89 Kobo per unit compared with the previous day’s 91 Kobo per unit.

Yesterday, the activity chart was mixed as the volume of securities traded at the bourse improved by 2,556 per cent after investors bought and sold 1.03 million units of stocks compared to the 38,620 units recorded a day earlier.

In the same vein, the value of shares traded yesterday surged by 1,092.2 per cent to N31.0 million from the previous day’s N2.6 million, while the number of deals depreciated by 16.7 per cent to 10 deals from the 12 deals executed on Monday.

At the close of business, AG Mortgage Bank Plc was the most traded stock by volume (year-to-date) with the sale of 2.3 billion units valued at N1.2 billion, Central Securities Clearing System (CSCS) Plc stood in second place with 687.8 million units worth N14.3 billion while Lighthouse Financials Services Plc was in third place with 224.7 million units valued at N112.3 million.

The most traded stock by value (year-to-date) was still CSCS Plc with a turnover of 687.8 million units exchanged for N14.3 billion, trailed by VFD Group Plc with 29.1 billion units worth N7.7 billion, and FrieslandCampina WAMCO Plc with 17.2 million units valued at N1.9 billion.

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