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NASD Exchange Extends Rally to Seventh Trading Session

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By Adedapo Adesanya

The first trading day of the Nigerian Exchange (NGX) Group on the floor of the NASD Over-the-Counter (OTC) Securities Exchange closed bullish.

The stock joined forces with the Central Securities Clearing Systems (CSCS) Plc to help the unlisted securities market to extend its gains to the seventh consecutive day, rising by 0.28 per cent.

NGX Group joined the exchange on Tuesday at a unit price of N25 but yesterday, its value rose by 2.4 per cent or 59 kobo to close at N25.59 per unit.

On its part, CSCS gained 30 kobo or 3 per cent to settle at N16.55 per unit as against N16.25 per unit it was transacted on Tuesday.

At the end of the day’s trading, the NASD Unlisted Securities Index (NSI) gained 2.11 points to finish at 766.78 points in contrast to 764.67 points it ended a day earlier.

In the same trend, the bourse’s market capitalisation closed at N545.03 billion after it increased by N1.5 billion. At the preceding session, it finished at N543.53 billion.

A total of 4.3 million shares were transacted yesterday, 100.7 per cent higher than the 2.1 million units traded on Tuesday, while securities worth N108.8 million exchanged hands, 406.9 per cent higher than N21.5 million recorded on Tuesday.

These transactions were carried out in 56 deals, 1,300 per cent higher than the four deals recorded previously and a chunk of them were executed on NGX Group, 42 deals.

Afriland Properties Plc accounted for eight deals, CSCS Plc recorded three deals, Niger Delta Exploration and Production (NDEP) Plc made two deals, while FrieslandCampina WAMCO Nigeria Plc executed a day.

At the close of business, UBN Property Plc remained as the most active stock by volume on a year-to-date basis for transacting 21.9 million units valued at N24.6 million. CSCS Plc trailed for trading 9.1 million units worth N141.9 million, while NGX Group sold 4.1 million units worth N105.7 million.

In terms of the most active stock by value (year-to-date), NDEP Plc remained on top with 2.2 million units worth N695.0 million, Friesland followed with 3.5 million units worth N435.4 million, and VFD Group Plc, which has traded 1.3 million valued at N219.6 million.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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