NASD OTC Exchange Opens Week in Bulls Territory

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange opened the new week in the bullish territory following a 0.08 per cent increase in the main performance indicators of the exchange.

During the trading day, the total value of securities on the bourse, which is measured by the market capitalisation, expanded by N510 million to close at N618.10 billion compared with N617.59 billion it quoted at the previous session, which was last Friday.

Equally, the NASD Unlisted Security Index (NSI) appreciated by 0.62 points to end the day at 748.15 points as against 747.53 points it recorded at the previous session.

The growth recorded yesterday was boosted by NASD Plc as its share price went up by N1.15 or 7.7 per cent to sell at N14.85 per unit compared to N13.70 per unit of the previous session.

At the market on Monday, there was a drop in the volume of securities traded as the trading data showed that investors exchanged 80,500 units in contrast to the 292,000 units transacted at the previous session, showing a 63.7 per cent drop.

Likewise, there was a slide in the value of shares traded yesterday as the market participants bought and sold stocks worth N1.9 million, 61.3 per cent lower than the N4.9 million reported at the preceding session.

These transactions were carried out in nine deals, 80 per cent higher than the five deals executed at the preceding trading session.

Still, Food Concepts Plc remained as the most active stock by volume (year-to-date) for trading 11.4 billion units of its shares for N14.4 billion. Lighthouse Financial Services Plc was second for selling 1.1 billion for N546.1 million, while Geo Fluids Plc was in third place with 1.0 billion units worth N700.1 million.

In terms of value, Food Concepts Plc retained its position on top of the chart as it has traded 11.4 billion units for N14.4 billion. Nigerian Exchange (NGX) Group Plc remained in the second spot with 456.5 million units valued at N9.2 billion, followed by VFD Group Plc with 10.4 million units valued at 3.5 billion.