Market Cap of NASD Exchange Gains N11.43bn to Reach N541.19bn

By Adedapo Adesanya 

The market capitalisation of the NASD Over-the-Counter (OTC) Securities Exchange recorded a record rise of N11.43 billion on Monday, October 26.

This 2.16 per cent jump left the total value of securities on the exchange to close at N541.19 billion in contrast to N529.76 billion it finished at the last session.

The appreciation was influenced by the spectacular performance in the equities of FrieslandCampina WAMCO Nigeria Plc. Stocks of the milk-producing company rose by 9.35 per cent or N11.71 on Monday to close at N137 per unit compared with the previous N125.29 per unit.

This propelled the NASD Unlisted Security Index (NSI) to move up by 2.16 per cent or 15.56 points to close at 736.75 points as against 721.19 points recorded at the previous session.

However, the activity level was mixed as the volume of trades slid by 88.6 per cent following the 11,313 units of shares traded by investors compared with 99,500 units recorded last Friday.

In the same, the trading value reduced by 31.2 per cent after securities worth N1.1 million exchanged hands in contrast to the N1.5 million achieved at the last trading day.

But the number of deals recorded during the first session of the week increased by 50 per cent due to the three deals executed by market participants.

These deals were done on stocks belonging to FrieslandCampina WAMCO Nigeria Plc, Niger Delta Exploration and Production (NDEP) Plc and UBN Properties Plc.

ARM Life Plc closed the session as the company with the highest volume of traded shares (year-to-date) with 7.4 million units of its shares worth N4.6 billion. Central Securities Clearing Systems (CSCS) Plc was in second place with 203.2 million units worth N2.7 billion, while Food Concept Plc held the third position with 128.1 million units of its shares worth N90.2 million.

ARM Life Plc was also the company with the highest number of stocks traded by value (year-to-date) with 7.4 billion units of its shares worth N4.6 billion, while Niger Delta Exploration and Production (NDEP) Plc followed for trading 10.4 million units for N3.2 billion, with CSCS Plc in third place after trading 203.2 million units of its securities valued at N2.7 billion.