IGI, UBN Property Raise OTC Securities Exchange by 0.09%

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange closed in the green territory on Friday, January 5 lifted by UBN Property Plc and Industrial and General Insurance (IGI) Plc by 0.09 per cent.

This increased the market capitalisation of the OTC securities exchange by N1.12 billion to close at N1.259 trillion compared with the previous session’s N1.258 trillion, as the NASD Unlisted Security Index (NSI) expanded by 0.83 points to end the day at 928.99 points as against the 928.16 points it recorded at the previous session.

UBN Property Plc saw its stock price jump by 15 Kobo yesterday to close at N1.90 per unit against N1.75 per unit of the preceding day, and IGI Plc made a 2 Kobo appreciation to end at 27 Kobo per share, in contrast to Thursday’s closing price of 25 Kobo per share.

At the trading session, the volume of securities traded at the bourse went down by 73.5 per cent to 929,440 units from the 3.5 million units transacted by market participants a day earlier, the value of shares traded yesterday likewise decreased by 65.1 per cent to N2.2 million from the N6.3 million recorded in the preceding trading day, and the number of deals depleted by 45.5 per cent to six deals from the 11 deals carried out in the previous trading session.

At the close of transactions, Purple Real Estate Plc remained the most traded stock by volume on a year-to-date basis with 5.5 million units sold for N28.8 million, UBN Property Plc was in second place with 3.6 million units valued at N6.3 million, and IGI Plc stood in third place with 709,400 units worth N191,538.00.

In the same vein, Purple Real Estate Plc maintained its position as the most traded stock by value on a year-to-date basis with 5.5 million units worth N28.8 million, Aradel Plc followed with 25,031 units sold for N27.9 billion, and UBN Property Plc was in third place with 3.6 million units valued at N6.3 million.