NASD Exchange Remains Flat Despite 1.9% Growth by NGX Group

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By Adedapo Adesanya

Despite shares of Nigerian Exchange (NGX) Group Plc recording a 1.9 per cent or 35 kobo growth on Tuesday, the NASD Over-the-Counter (OTC) Securities Exchange closed flat again.

The positive price movement achieved by the stock could not sway the unlisted securities market to the positive territory.

The share price of the company closed yesterday at N17.96 per unit compared with 17.61 per unit it finished at the first trading day of the week.

Business Post reports that at the close of transactions on Tuesday, the NASD Unlisted Security Index (NSI) remained unchanged at 763.84 points, while the market capitalisation of the exchange retained the previous value of N536.52 billion.

It was observed that the level of activity improved during the session as investors traded 10.3 million units of securities, 886.9 per cent higher than the 1.0 million units of securities transacted at the previous session.

Equally, the value of shares exchanged by the market participants appreciated by 822.6 per cent to N185.2 million from N20.1 million.

In the same pattern, the total number of deals executed by traders went up by 3.3 per cent to 31 deals from the previous day’s 30 deals.

These deals were executed on three companies led by the day’s sole gainer with 26 deals. Central Securities Clearing Systems (CSCS) Plc recorded three deals, while Niger Delta Exploration and Production (NDEP) Plc made a lone deal.

NGX Group, at the close of business, maintained its position as the most active stock by volume (year-to-date) with 296.4 million units of its shares valued at N6.6 billion. Swap Technologies & Telecomms Plc was in second place with 46.6 million units worth N41.0 million, while CSCS Plc held the third position with 31.7 million units of its shares worth N498.1 million.

Also, NGX Group was the most traded stock by value (year-to-date) with the sale of 296.4 million units worth N6.6 billion. NDEP Plc remained in the second spot with 2.9 million units valued at N901.5 million, while FrieslandCampina WAMCO Nigeria has traded 6.1 million units worth N765.9 million.

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