Alternative Stock Market Extends Rally by 0.47%

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange extended its positive run as it climbed 0.47 per cent on Thursday, August 3, spurred by gains from four equities.

The market capitalisation of the alternative bourse appreciated during the session by N5.23 billion to N1.125 trillion from the N1.120 trillion it closed in the preceding session.

The NASD Unlisted Securities Index (NSI) also went up by 3.78 points to wrap the session at 813.48 points compared with 809.70 points recorded in the previous session.

Niger Delta Exploration and Production (NDEP) Plc appreciated by N22.11 to sell at N366.21 per share versus Wednesday’s closing price of N344.10 per share, FrieslandCampina Wamco Nigeria Plc gained 53 Kobo to close at N76.62 per unit compared with the previous day’s N76.09 per unit, Acorn Petroleum Plc improved by 2 Kobo to trade at 24 Kobo per share versus 22 Kobo, and Industrial and General Insurance (IGI) Plc jumped by 1 Kobo to quote at 9 Kobo per unit, in contrast to the midweek’s value of 8 Kobo per unit.

The unlisted securities bourse also reported surges in the level of transactions as the trading volume, value, and number of deals all jumped at the close of business.

The volume of transacted stocks increased by 4,024.1 per cent to 1.2 million units from 29,133 units, the value of shares traded went up by 3,869.6 per cent to N15.6 million from N392,923.00, and the number of deals went north by 100 per cent to 14 deals from seven deals published on Wednesday.

Business Post reports that Central Securities Clearing System (CSCS) Plc remained the most traded stock by volume (year-to-date) with 1.1 billion units worth N21.2 billion, Geo-Fluids was in second place with 631.0 units valued at N1.1 billion, while IGI Plc was in third place with 609.3 million units worth N48.2 million.

CSCS Plc was also the most traded stock by value (year-to-date) for selling 1.1 billion units valued at N21.2 billion, trailed by VFD Group with 18.9 million units worth N4.2 billion, and FrieslandCampico Wamco Nigeria Plc was in third place with 18.4 million units valued at N1.3 billion.