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By Adedapo Adesanya

The losses recorded on Tuesday at the NASD Over-the-Counter (OTC) Securities Exchange were overturned at the midweek session when the market closed 0.98 percent higher.

This was mainly impacted by the positive performance of a milk production company, FrieslandCampina Wamco Plc, which added N5 to its share price to settle at N120 per unit, closing as the market’s only gainer.

This helped the market capitalisation to rise by N4.88 billion to close at N501.87 billion, higher than N496.76 billion quoted on Tuesday, while the NASD Unlisted Security Index (NSI) rose by 6.8 points to settle at 698.56 points against 691.76 points recorded at the previous session.

Total volume of trade transacted increased again at the midweek session as traders transacted 592,065 units of securities compared with 345,945 units of securities recorded at the preceding session.

Following the same pattern was the total value of shares transacted by investors as they rose to N11.97 million from N7.23 million, representing a rise of 65 percent equivalent to N4.74 million.

The number deals executed during the midweek also rose by four deals or 44.44 percent from nine deals printed on Tuesday to 13 deals executed at the Exchange on Wednesday.

ARM Life Plc closed the session as the most active stock by volume (year-to-date) with 29 million units of its shares worth N18.3 million exchanged at the bourse. Central Securities Clearing System (CSCS) Plc was in second place with 1.9 million units worth N22.5 million, while UBN Property Company held the third position with 764,715 units of its shares worth N1.2 million.

Niger Delta Exploration and Production (NDEP) remained the most active by value (year-to-date) with 576,270 units of its shares worth N181.7 million traded while the market’s sole gainer, FrieslandCampina Wamco Nigeria, followed with 405,038 units exchanged for N53 million, with CSCS Plc moving into third place after trading 1.9 million units of its securities valued at N22.5 million.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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