NASD Exchange Gains 0.55% as Investors’ Enthusiasm Improves

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange returned to positive territory as it rose 0.55 per cent on Thursday, June 22, on the back of improved investors’ enthusiasm for unlisted stocks.

This pushed the NASD market capitalisation higher by N5.69 billion to N1.033 trillion from the N1.027 trillion it quoted at the previous session.

In the same vein, the NASD Unlisted Securities Index (NSI) appreciated by 4.10 points at the close of business to 747.02 points from the 742.92 points achieved a day earlier.

The bullishness witnessed by the unlisted securities market was inspired by three price gainers, which offset the losses printed by two stocks admitted on the platform.

The gainers were Niger Delta Exploration and Production (NDEP), Central Securities Clearing System (CSCS) Plc, and UBN Property Plc, while the losers were FrieslandCampina WAMCO Nigeria Plc and Afriland Properties Plc.

NDEP Plc gained N5.12 to trade at N250.12 per unit versus the previous day’s N245.00 per unit, CSCS Plc appreciated by N1.56 to N18.10 per share from N16.54 per share, and UBN Property Plc improved by 3 Kobo to 95 Kobo per unit versus 92 Kobo per unit.

Inversely, FrieslandCampina Wamco Plc shrank by N1.64 to close at N68.27 per unit against N69.91 per unit of the preceding session, and Afriland Properties Plc decreased by 1 Kobo to N2.62 per share versus the previous session’s N2.63 per unit.

There was a 1,990.8 per cent jump in the volume of securities traded during the session to 14.8 million units from 709,072 units, the value of shares rose by 334.0 per cent to N141.1 million from N32.5 million, while the number of deals depreciated by 16.7 per cent to 20 deals from 24 deals.

Geo-Fluids Plc closed the day as the most traded stock by volume (year-to-date) with 842.5 million units worth N1.3 billion, Industrial and General Insurance (IGI) Plc stood in second place with 630.1 units worth N49.6 million, while UBN Property Plc was in third place with 408.4 million units valued at N348.5 million.

The most traded stock by value (year-to-date) remained VFD Group Plc with 11.1 million units valued at N2.5 billion, followed by Geo-Fluids Plc with its 842.5 million units worth N1.3 billion, and FrieslandCampina Wamco Nigeria Plc with 18.3 million units valued at N1.3 billion.