Citi Trust, Two Others Improve Alternative Stock Exchange by 0.09%

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange continued its bullish run this week by rising further by 0.09 per cent on Tuesday, June 7, with the trio of NASD Plc, FrieslandCampina WAMCO Nigeria and Citi Trust Plc behind the gains.

They increased the market capitalisation of the alternative stock exchange by almost N1 billion to N1.003 trillion from the previous day’s N1.002 trillion and lifted the NASD Unlisted Securities Index (NSI) by 0.68 points to 761.92 points from the 761.24 points achieved a day earlier.

Business Post reports that NASD Plc led the gainers’ gang during the session after its price inflated by 7.14 per cent or N1 to settle at N15.00 per unit as against N14.00 per unit of the previous session, FrieslandCampina WAMCO Nigeria Plc continued its recovery with a 59 kobo or 0.62 per cent improvement to sell at N95.59 per share versus Monday’s N95.00 per share, while Citi Trust Plc posted a 30 kobo or 5.46 per cent appreciation to quote at N5.80 per unit in contrast to the preceding session’s N5.50 per unit.

The unlisted securities market recorded a single price decliner at the session and it was Central Securities Clearing System (CSCS) Plc, which lost 20 kobo or 1.27 per cent to close at N15.50 per share compared with the N15.70 per share it traded a day earlier.

As for the activity chart, it recorded an improvement as the volume of shares surged by 7,646.6 per cent to 11.9 million units from 153,075 units, the value of securities transacted by investors also increased by 1,914.0 per cent to N234.4 million from the preceding day’s N11.6 million, while the number of trades executed by market participants increased by 166.7 per cent to 24 deals from Monday’s nine deals.

The most traded stock by volume (year-to-date) remained AG Mortgage Bank Plc with the sale of 2.3 billion units worth N1.2 billion, followed by CSCS Plc with 672.7 million units worth N14.0 billion and Food Concepts Plc with 146.0 million units valued at N126.7 million.

Equally, the most traded security by value (year-to-date) was still CSCS Plc with 672.7 million units valued at N14.0 billion, followed by VFD Group with 9.6 million units worth N2.9 billion and FrieslandCampina WAMCO Nigeria Plc with 9.3 billion units valued at N1.2 billion.