Geo-Fluids Buoys 0.01% Growth at Unlisted Equity Market

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange recorded a marginal 0.01 per cent growth at the midweek session, with the market capitalisation growing by N130 million to N928.36 billion from N928.23 billion it quoted at the previous session, as the NASD Unlisted Securities Index (NSI) increased by 0.10 points to end the day at 706.51 points as against the 706.41 points recorded on Tuesday.

Business Post reports that the improvement was buoyed by the 2.73 per cent or 3 Kobo addition in the price of Geo-Fluids, closing the trading session at N1.13 per unit, in contrast to the previous day’s price of N1.10 per unit.

At the market yesterday, the volume of securities traded by investors went down by 99.7 per cent as a total of 307,860 units of stocks exchanged hands compared with the 102.4 million units of stocks transacted by market participants on Tuesday.

In the same vein, the value of shares traded yesterday tanked by 99.1 per cent to N854,174 from the N94.1 million achieved a day earlier, while the number of deals remained unchanged at 11 deals at the close of transactions.

Geo-Fluids Plc remained the most traded stock by volume on a year-to-date basis with the sale of 334.2 million units valued at N331.3 million, trailed by UBN Property Plc with a turnover of 228.0 units worth N191.0 million, and NASD Plc with the sale of 3.0 million units worth N36.6 million.

Also, the most traded stock by value on a year-to-date basis was Geo-Fluids Plc for selling 334.2 million units worth N331.3 million, followed by UBN Property Plc with 228.0 million units valued at N191.0 million, and FrieslandCampina Wamco Nigeria Plc with 2.5 million units valued at N166.0 million.