Economy
Energy Stocks Raise OTC Securities Exchange by 2.07%
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange received a further boost of 2.07 per cent on Tuesday, September 1, spurred by the presence of five price gainers led by energy stocks like Nipco Plc, which gained N36.56 to close at N457.00 per share versus the preceding day’s N420.44 per share, and 11 Plc, which closed higher by N22.74 to quote at N255.35 per unit versus Monday’s closing price of N232.61 per unit.
Further, FrieslandCampina Wamco Nigeria Plc appreciated by N9.63 to N159.92 per share from N150.29 per share, Central Securities Clearing System (CSCS) Plc grew by N3.83 to N93.83 per unit from N90.00 per unit, and Geo-Fluids Plc increased by 18 Kobo to N2.04 per share from N1.86 per share.
As a result, the market capitalisation added N53.52 to end at N2.638 trillion compared with the previous session’s N2.584 trillion, while the NASD Security Index (NSI) climbed by 89.16 points to 4,395.94 points from 4,306.78 points.
The OTC securities exchange was without a price loser yesterday, which was Food Concepts Plc. The stock fell by 1 Kobo to N2.50 per unit from N2.51 per unit.
The volume of securities exchanged by market participants slid by 55.0 per cent to 526,020 units from 1.2 million units, and the number of deals declined by 20.7 per cent to 23 deals from 29 deals, while the value of securities jumped by 7.0 per cent to N55.6 million from N51.9 million.
Great Nigeria Insurance (GNI) Plc finished the day as the most active stock by value on a year-to-date basis, with 3.4 billion units traded for N8.4 billion, trailed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units valued at N6.5 billion, and CSCS Plc with 80.1 million units exchanged for N5.8 billion.
GNI Plc also closed the day as the most traded stock by volume on a year-to-date basis, with 3.4 billion units worth N8.4 billion, followed by Infracredit Plc with 2.3 billion units sold for N6.5 billion, and Resourcery Plc with 1.1 billion units transacted for N415.7 million.
