Investors’ Appetite for Unlisted Stocks Buoys NASD by 0.28%

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange extended its presence in the green territory by 0.28 per cent on Tuesday, June 10.

The market closed last Friday and Monday for the Sallah holidays.

At the resumption of trading activities yesterday, the value of the alternative stock market increased by N34.46 billion to N1.960 trillion from N1.995 trillion as the NASD Unlisted Security Index (NSI) went up by 9.44 points to 3,348.25 points from the previous session’s 3,338.81 points.

During the session, Central Securities Clearing System (CSCS) Plc gained N1.16 to close at N28.00 per share compared with the preceding session’s N26.84 per share, and Geo-Fluids Plc soared by 29 Kobo to end at N3.19 per unit versus N2.90 per unit.

However, the share price of FrieslandCampina Wamco Nigeria Plc was down on Tuesday by 77 Kobo to N78.68 per unit from N79.45 per unit as a result of profit-taking.

The activity chart showed that the volume of stocks bought and sold by the market participants decreased by 58.1 per cent to 248,882 units from the 594,423 million units traded in the previous trading day, the value of securities fell by 67.2 per cent to N9.8 million from N29.9 million, and the number of deals dropped by 46.4 per cent to 30 deals from 56 deals.

When the market closed for the session, Impresit Bakolori Plc remained the most active stock by volume on a year-to-date basis with a turnover of 536.9 million units worth N524.7 million, followed by Air Liquide Plc with 507.1 million units sold for N4.2 billion, and Geo-Fluids Plc with 268.3 million units valued at N475.4 million.

In the same vein, Okitipupa Plc was the most traded stock by value on a year-to-date basis with the sale of 153.7 million units for N4.9 billion, trailed by Air Liquide Plc with 507.1 million units worth N4.2 billion, and FrieslandCampina Wamco Nigeria Plc with 38.9 million units traded for N1.6 billion.