Unlisted Securities Market Extends Rally by 0.07%

By Adedapo Adesanya

For the third straight session, the NASD Over-the-Counter (OTC) Securities Exchange closed positive on Thursday with a marginal growth of 0.07 per cent largely driven by NASD Plc and Nigerian Exchange (NGX) Group Plc.

At the close of business yesterday, the NASD Unlisted Security Index (NSI) increased by 0.55 points to wrap the session at 743.52 points compared with 742.97 points of the previous session.

In the same vein, the total value of the unlisted securities market went up by N470 million to close the day at N646.24 billion in contrast to N645.77 billion it ended a day earlier.

As earlier stated, the extension of the rally at the bourse was influenced by two stocks, with the NASD Plc maintaining its upward trajectory by adding 94 kobo or 9.0 per cent to its equity price to close the session at N10.42 per share in contrast to N9.48 per share it traded on Wednesday.

On his part, the NGX Group Plc appreciated by 3 kobo or 0.2 per cent to settle at N13.59 per unit compared to N13.56 per unit it was sold at the last trading session.

During the trading day, the volume of shares transacted by investors went down by 49.7 per cent to 1.6 million units from the preceding day’s 3.1 million units.

Likewise, the value of securities traded by market participants went down by 93.3 per cent to N28.6 million from Wednesday’s N428.6 million, while the number of deals fell by 31.8 per cent to 19 deals from 22 deals.

At the close of transactions, Geo Fluids Plc remained as the company with the highest number of shares traded by investors on a year-to-date basis with the sale of 1.0 billion units worth N700 million. It was trailed by NGX Group Plc with 448.7 million units worth N9.1 billion, and Food Concepts Plc with 297.5 million units valued at N387.8 million.

However, the most traded stock by value on a year-to-date basis was NGX Group Plc with the sale of 448.7 million units worth N9.1 billion, trailed by VFD Group Plc with 10.4 million units valued at N3.5 billion, and FrieslandCampina WAMCO Nigeria Plc with 8.4 million units sold for N1.0 billion.