Three Stocks Extend Bullish Run on NASD by 0.16%

By Adedapo Adesanya

Transactions at the NASD Over-the-Counter (OTC) Securities Exchange opened bullish on Monday after the bulls sustained their grip by 0.16 per cent on the back of gains posted by three securities.

The trio; Niger Delta Exploration and Production (NDEP) Plc, Central Securities Clearing Systems (CSCS) Plc, and FrieslandCampina WAMCO Nigeria further elevated the market capitalisation by N1.63 billion to N1.008 trillion from the previous session’s N1.001 trillion.

Also, the NASD Unlisted Securities Index (NSI) appreciated by 1.24 points to end the day at 768.52 points as against the 767.28 points it recorded in the previous session.

Business Post reports that NDEP Plc saw its stock rise by N13 or 7.2 per cent to close at N193.00 per unit in contrast to N180.00 per unit in the preceding session, while CSCS Plc gained 71 kobo or 4.2 per cent to sell at N17.81 per unit versus last Friday’s N17.10 per unit, with FrieslandCampina appreciating by 53 kobo or 0.3 per cent to end the day at N186.49 per share compared to N185.96 per share.

On the flip side, NASD Plc suffered a 5.5 per cent or 82 kobo decline to end the day as the sole price loser, closing at N14.00 per share compared with the last closing price of N14.82 per share.

During the session, the volume of securities traded by investors went down by 95.2 per cent to 487,235 units from 10.1 million units, the value of transactions, however, rose by 111.9 per cent to N42.4 million from N20.0 million, while the number of trades increased by 82.4 per cent to 31 deals from 17 deals.

AG Mortgage Plc sustained its position as the most traded stock by volume (year-to-date) with 2.3 billion units of its stocks valued at N1.2 billion, followed by CSCS Plc with 660.9 million of its units amounting to N13.9 billion, and NASD Plc, with 43.4 million units valued at N467.7 million.

In terms of the most traded stock by value (year-to-date), CSCS Plc topped the chart with 660.9 million units exchanged for N13.9 billion, AG Mortgage Plc was in second place with 2.3 billion units valued at N1.2 billion, while FrieslandCampina was in third place with 5.4 million units worth N771.4 million.