Adedapo Adesanya
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange recorded the third straight session of gains on Thursday, April 8, appreciating further by 0.56 per cent.
During the trading day, the NASD Unlisted Security Index (NSI) achieved its highest level since the beginning of trading this year with a growth of 4.22 basis points to settle at 753.79 points in contrast to 749.57 points it finished at the previous session.
The highest level the benchmark index of the unlisted securities market in Nigeria has recorded so far in 2021 was on January 7.
Business Post reports that the day’s gain came on the back of appreciation in the stocks of Nigerian securities depository company, Central Securities Clearing Systems (CSCS) Plc. The company’s shares rose by 3.9 per cent or 60 kobo yesterday to finish at N16 per unit compared with the previous N15.40 per unit.
As a result of its performance, the market capitalisation of the exchange increased by N3 billion to N535.80 billion from N532.80 billion it ended at the midweek session.
However, despite the growth achieved at the market yesterday, the volume of shares transacted by investor reduced by 13.6 per cent to 94,500 units from 109,420 units.
Similarly, the trading value went down by 93.2 per cent as securities worth N1.8 million exchanged hands as against the N27.1 million worth of shares traded on Wednesday.
But the total number of deals executed on Thursday remained at seven and they were carried out on three firms, with CSCS Plc accounting for five deals, while the Niger Delta Exploration and Production (NDEP) Plc and FrieslandCampina WAMCO Nigeria Plc accounted for one deal each.
When trading activities were wrapped up yesterday, UBN Property Plc maintained its position as the most active stock by volume (year-to-date) with the sale of 21.9 million units valued at N24.6 billion. CSCS Plc trailed with the sale of 8.3 million units worth N128.5 million, while Friesland held the third position with 3.5 million units worth N434.3 million.
But by value (year-to-date), NDEP Plc was the most traded stock for transacting 2.2 million units valued at N687.8 million. Friesland trailed with 3.5 million units of its securities valued at N434.3 million, while VFD Group Plc has traded 1.1 units worth N181 million.
