By Adedapo Adesanya
Transactions at the NASD Over-the-Counter (OTC) Securities Exchange closed bullish on Monday, January 4 following the 1.18 per cent growth in the key performance indicators.
It was the first trading day of the new year and market participants were upbeat that things would be better in the year.
At the close of trading activities yesterday, the market capitalisation of the Exchange moved up by N6.22 billion from N525.94 billion to N532.16 billion.
In the same vein, the NASD Unlisted Securities Index (NSI) appreciated by 8.67 points to close at 741.67 points in contrast to 733.00 points it finished last Thursday when the exchange last opened for business.
Business Post reports that the positive momentum witnessed at the unlisted securities market on Monday was propelled by the rise in the stock price of Niger Delta Exploration and Production (NDEP) Plc and Central Securities Clearing Systems (CSCS) Plc.
Yesterday, the equity price of NDEP Plc appreciated by N15 to close at N355 per unit compared to N340 per unit it finished earlier, while the price of CSCS Plc rose by 70 kobo to end the session at N15.75 per share in contrast to N15.05 per share it was sold at the previous session.
It was observed that on Monday, only two deals were executed by investors, 60 per cent lower than the five deals carried out at the last trading day of 2020.
Also, the number of shares transacted during the session reduced by 95.8 per cent to 46,540 units from 1.1 million units traded on Thursday, December 31, 2020, while the value of the securities exchanged by investors increased by 194.9 per cent to N4.3 million from N1.5 million.
Data from the exchange showed that the most active stock by volume yesterday was CSCS with 35,890 shares exchanged for N565,268, while NDEP Plc traded 10,650 units valued at N3.8 billion.
But in terms of value, NDEP Plc was the most traded stock with 10,650 units worth N3.8 billion, while CSCS Plc followed with N565,268 made from the sale of 35,890 stocks.
Modupe Gbadeyanka