NASD Exchange Extends Rally by 0.01%

By Adedapo Adesanya

It was another bullish trading day on the floor of the NASD Over-the-Counter (OTC) Securities Exchange on Tuesday as the bulls extended their stay at the market for another session with a marginal growth of 0.01 per cent.

The favourable outcome came on the back of gains recorded by NASD Plc as the company saw its equity grow by 13 kobo or 0.7 per cent to close at N19.30 per unit in contrast to N19.17 per unit it closed at the previous session.

As a result of this, the NASD unlisted security index (NSI) moved up by 0.07 points to 750.00 points from 749.92 points, while the market capitalisation gained N60 million to wrap the day at N619.63 billion as against the preceding day’s N619.56 billion.

In terms of the level of activities, investors transacted a total of 601,000 units of shares during the session compared to the 510,040 units of shares traded at the NASD Exchange on Monday, indicating that the trading volume went up by 11.1 per cent.

As for the value of the transactions, it also went up by 21.2 per cent as shares worth N11.7 million exchanged hands yesterday in contrast to the N9.7 million transacted at the preceding trading day.

However, the number of deals executed at the market on Tuesday witnessed a 62.5 per cent slide as only three deals were completed compared with the eight deals carried out at the previous session.

At the close of trades, Food Concepts Plc maintained its position as the most traded stock by volume (year-to-date) with 11.4 billion units valued at N14.4 billion. Lighthouse Financial Service Plc also retained its second spot for selling 1.1 billion units valued at N546.1 million just as Geo Fluids Plc kept third place with 1.0 billion units worth N700.1 million.

In terms of value, Food Concepts Plc remained unchanged at the top of the table for trading 11.4 billion units of its securities worth N14.4 billion, trailed by Nigerian Exchange (NGX) Group Plc with 456.4 million units valued at N9.2 billion, while VFD Group Plc has exchanged 10.4 million units worth N3.5 billion.