Food Concepts Spurs NASD Index 0.95% Growth

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange rose by 0.95 per cent on Thursday, September 24, buoyed by a boost in the stock price of Food Concepts Plc.

The parent company of the Chicken Republic and PieXpress food chain chalked up 16 Kobo to close at N2.46 per unit compared with the previous day’s N2.30 per unit.

The price gain recorded by this stock overpowered the losses recorded by three other securities during the trading session.

Yesterday, the NASD Security Index (NSI) improved by 41.82 points to =4,432.66 points from 4,390.84 points, and the market capitalisation went up by N25.11 billion to N2.660 trillion from N2.635 trillion.

The three losers were led by Central Securities Clearing System (CSCS) Plc, which lost N2.50 to close at N98.50 per share compared with the previous day’s N101.00 per share. FrieslandCampina Wamco Nigeria Plc dropped N1.80 to N150.00 per unit from N152.00 per unit, and UBN Property Plc declined by 20 Kobo to N2.00 per share from N2.20 per share.

During the session, the volume of securities depreciated by 5.9 per cent to 1.8 million units from 1.9 million units, while the value of securities soared by 11.3 per cent to N262.9 million from the preceding session’s N236.3 million, and the number of deals jumped by 104.8 per cent to 43 deals from 21 deals.

Great Nigeria Insurance (GNI) Plc closed the day as the most active stock by value on a year-to-date basis, with 3.4 billion units worth N8.4 billion, trailed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units exchanged for N6.5 billion, and CSCS Plc with 81.9 million units transacted for N6.0 billion.

GNI Plc also finished the session as the most traded stock by volume on a year-to-date basis, with 3.4 billion units sold for N8.4 billion, followed by Infracredit Plc with 2.3 billion units valued at N6.5 billion, and Resourcery Plc with 1.1 billion units traded for N415.7 million.