NASD Opens Week Bullish With 0.89% Growth

By Adedapo Adesanya

The bulls took over the floor of the NASD Over-the-Counter (OTC) Securities Exchange on Monday as the market got off a positive start.

At the end of the day’s trading, the NASD unlisted securities index (NSI) grew by 0.89 per cent or 6.33 per cent from 712.54 points to 718.87 points.

Also, the market capitalisation of the bourse increased by 0.89 per cent or N4.65 billion to N528.06 billion from the preceding N523.41 billion.

However, the trading volume yesterday was in red as it reduced by 74.1 per cent. This was because investors transacted 27,450 units of shares during the session compared with the 106,050 units of securities traded last Friday when the market last opened for business.

In the same vein, the value of the stocks transacted on Monday decreased by 21.8 per cent as N1.4 million worth of trades was carried out in contrast to the N1.7 million worth of securities traded at the preceding session.

However, the number of deals completed during the trading day increased by 25 per cent or a single deal as only five deals were executed yesterday versus four deals last Friday.

These deals were done on securities of Niger Delta Exploration and Production (NDEP) Plc (three deals) and Central Securities Clearing Systems (CSCS) Plc (two deals).

Business Post reports that only one stock recorded a price movement on Monday and it was CSCS Plc, which made an upward movement of 6.9 per cent or 93 kobo to close at N14.50 per unit as against N13.57 per unit of the previous session.

In terms of the most traded stock by volume year-to-date, ARM Life Plc topped the chart on Monday with 7.4 billion units worth N4.6 billion, while CSCS Plc followed for trading 201.7 million units valued at N2.7 billion, with Food Concept Plc in third place after trading 125.1 million units worth N88.1 million.

The most active stock at the NASD by value (year-to-date) was still ARM Life Plc, which has traded 7.4 billion units of its securities valued at N4.6 billion. NDEP Plc trailed for trading 8.8 million units valued at N2.7 billion, while CSCS Plc sat on the third spot after selling 201 million units valued at N2.7 billion.