NASD OTC Market Index Rises 0.76%

By Adedapo Adesanya

On Wednesday, the NASD Over-the-Counter (OTC) Securities Exchange ended in the positive territory by closing 0.76 per cent higher.

The NASD unlisted security index (NSI) appreciated during the session by 5.63 points to settle at 742.97 points compared with the previous day’s 737.34 points.

In the same vein, the market capitalisation of the NASD OTC market went up by N4.89 billion to N645.77 billion from N640.88 billion.

Business Post reports that the growth reported at the unlisted securities market was buoyed by three stocks led by Central Securities Clearing Systems (CSCS) Plc, which appreciated by 87 kobo or 5.1 per cent to trade at N17.00 per unit compared to N16.13 per unit of the previous session.

NASD Plc continued its stellar performance yesterday as its value went up by 86 kobo or 9.1 per cent to N9.48 each from N8.62 each, while Nigerian Exchange (NGX) Group Plc rose by 8 kobo or 0.6 per cent to N13.56 per share from N13.48 per share.

At the exchange on Wednesday, there was an increase of 42.4 per cent in the volume of securities as investors exchanged 3.1 million units compared to 2.2 million units traded at the preceding session.

Also, there was a surge in the value of shares traded yesterday by 665.3 per cent to N428.6 million from N55.9 million, while the number of deals rose by 36.1 per cent to 49 deals from 36 deals executed on Tuesday.

Geo Fluids Plc retained its position as the most active stock by volume (year-to-date) as it has traded 1.0 billion units of its shares for N700.1 million. NGX Group Plc maintained the second spot as it has traded 448.2 million units valued at N9.1 billion, while Food Concepts Plc stayed in third place with 297.5 million units worth N387.8 million.

But the most active stock by value (year-to-date) was NGX Group Plc for transacting 448.2 million units of its securities for N9.1 billion, VFD Group Plc remained in the second spot with 10.4 million units of its securities sold for N3.5 billion, while FrieslandCampina WAMCO Plc has exchanged 8.4 million units valued at N1.0 billion.