NASD OTC Exchange Records First Bullish Trade in November

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange recorded a 0.81 per cent appreciation on Wednesday, November 4, serving as a breather for the market after the two previous sessions ended in the negative territory.

The total value of securities admitted on the bourse yesterday increased by N4.25 billion to close at N529.39 billion in contrast to N525.14 billion it settled at the previous session.

Also, the NASD Unlisted Security Index (NSI) rose by 0.81 per cent or 5.8 points to end the day at 720.69 points as against 714.89 points it recorded the preceding day.

The growth seen at the market yesterday happened as a bellwether, FrieslandCampina WAMCO Nigeria Plc, recorded a N4.36 or 3.33 per cent gain to close at N135.36 per share compared with N131 per share it closed the day before.

The activity chart showed that there was, however, a drop in the total volume of securities traded as investors exchanged 5,877 units in contrast to Tuesday’s 62,350 units of securities transacted by market participants, representing a decline by 90.6 per cent.

These trades came from four deals executed on the securities belonging to the day’s only price advancer and mover, FrieslandCampina WAMCO Nigeria Plc. At the preceding session, three deals were executed by investors, indicating a 33.3 per cent rise in the number of deals.

Business Post reports that the value of the transactions at the market yesterday stood at N795,492.30, 64.7 per cent lower than the N2.3 million achieved a day earlier.

ARM Life Plc closed the session as the company with the highest volume of shares traded (year-to-date) with 7.4 billion units of its shares worth N4.6 billion exchanged at the bourse.

Central Securities Clearing Systems (CSCS) Plc was in second place with 203.5 million units worth N2.7 billion, while Food Concepts Plc held the third position with 128.1 million units of its shares worth N90.2 million.

Equally, ARM Life Plc also remained the highest traded stock by value (year-to-date) after transacting 7.4 billion units of its securities for N4.6 billion.

Niger Delta Exploration and Production (NDEP) Plc came next for exchanging 10.4 million units valued at N3.2 billion, while CSCS Plc transacted 203.5 million units valued at N2.7 billion.