Geo-Fluids, IGI Lift Unlisted Securities Market by 0.09%

By Adedapo Adesanya

The unlisted securities market was lifted on Thursday by 0.09 per cent, thanks to the duo of Geo-Fluids Plc and Industrial and General Insurance (IGI) Plc, which appreciated in price during the session.

Business Post reports that Geo-Fluids Plc appreciated by 19 Kobo yesterday to close at N2.14 per share versus Wednesday’s value of N1.95 per share, while IGI Plc chalked up 1 Kobo to settle at 8 Kobo per unit, in contrast to the preceding session’s 7 Kobo per unit.

As a result, the valuation of the NASD Over-the-Counter (OTC) Securities Exchange increased at the close of trades by N950 million to N1.029 trillion from N1.028 trillion.

Equally, the NASD Unlisted Securities Index (NSI) went up during the trading day by 0.69 points to 743.84 points from the previous day’s 743.15 points.

Yesterday, there was a surge in the volume of securities traded at the bourse as investors exchanged 23.8 million units compared with the 8,299 units transacted a day earlier, representing an increase of 286,604.2 per cent.

Also, the value of shares traded at the session rose by 2,505.7 per cent to N31.3 million from the N1.2 million posted in the last session, while the number of deals carried out during the session remained unchanged at nine deals.

At the close of business, Geo-Fluids Plc was the most traded stock by volume on a year-to-date basis with 495.8 million units worth N573.5 million, UBN Property Plc stood in second place with 365.8 units valued at N309.5 million, while Industrial and General Insurance (IGI) Plc was in third place with 81.1 million units valued at N5.9 million.

The most active stock by value on a year-to-date basis was VFD Group Plc with the sale of 7.3 million units worth N1.7 billion, followed by Geo-Fluids Plc, which has traded 495.8 million units worth N573.5 million, and UBN Property Plc, which has transacted 365.8 million units valued at N309.5 million.