By Adedapo Adesanya
Four companies spurred the NASD Over-the-Counter (OTC) Securities Exchange into positive territory in the 24th week of trading in 2023.
11 Plc, Central Securities Clearing System (CSCS) Plc, Geo-Fluids Plc, and Industrial and General Insurance (IGI) Plc increased the value of the NASD OTX exchange by 1.04 per cent in the four-day trading week.
Consequently, investors’ portfolios rose N10 billion to move the market capitalisation of the bourse to N1.024 trillion from the N1.014 billion it closed in the preceding week, amid fresh confidence in the nation’s capital market following recent market-welcoming policies, including the floating of the local currency at the foreign exchange market.
In the same vein, the NASD Unlisted Securities Index (NSI) increased in the week by 7.6 points to settle at 740.74 points compared with 733. points recorded in the previous week.
11 Plc gained 9.6 per cent last to finish at N144.00 per share from N131.34 per share, CSCS Plc appreciated by 9.0 per cent to N15.70 per share from N14.40 per share, Geo-Fluids Plc improved by 8.3 per cent to N3.00 per unit from N2.77 per unit, while IGI Plc appreciated by 14.3 per cent to 8 Kobo per unit from 7 Kobo per unit.
However, Niger Delta Exploration and Production (NDEP) Plc lost 3.5 per cent to settle at N250.83 per share versus the preceding week’s N260.00 per share.
In the week, the value of transactions went down by 64.1 per cent to N80.2 million from N223.1 million, the volume of trades shrank by 51.2 per cent to 13.5 million units from 27.6 million units, while the number of deals decreased by 5.8 per cent to 114 trades from 121 trades.
At the close of the week, Geo-Fluids Plc was the most traded stock by volume with 5.43 million units, Purple Estate Plc traded 5.03 million units, IGI Plc exchanged 1.76 million units, Acorn Petroleum Plc transacted 830,000 units, while FrieslandCampina Wamco Nigeria Plc traded 140,000 units.
By value, Purple Estate Plc topped with N26.1 million, Geo-Fluids Plc followed with N16.3 million, NDEP Plc posted N11.3 million, Friesland Campina Wamco Plc recorded N9.5 million while 11 Plc raked in N7.2 million.
In the year so far, investors have traded a total of 1.74 billion units of securities worth N5.84 billion in 1,562 deals.
Dipo Olowookere