Economy
NASD Index Gains 0.10% as Investors Hunt Bargains After Recent Sell-Offs
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange rebounded by 0.10 per cent on Tuesday, October 6, as investors returned to the market to take advantage of lower valuations following recent sell-offs, strengthening their portfolios with selected securities.
The NASD Security Index (NSI) went up by 4.24 points during the session to 4,404.86 points from 4,400.62 points, and the market capitalisation added N2.54 billion to close at N2.643 trillion compared with the previous day’s N2.641 trillion.
Business Post reports that Food Concepts Plc gained 5.30 per cent to N2.63 per share during the session, and FrieslandCampina Wamco Nigeria Plc appreciated by 1.51 per cent to N149.75 per unit.
On the flip side, Afriland Properties Plc slumped yesterday by 8.69 per cent to N12.33 per share, while Central Securities Central System (CSCS) Plc lost 0.72 per cent to N100.37 per unit.
Yesterday, the value of securities transacted surged by 1,352.5 per cent to N176.3 million from the preceding session’s N12.1 million, and the volume of securities also rose, this time by 136.5 per cent, to 2.96 million units from 1.25 million units, as the number of deals increased by 11.9 per cent to 47 deals from the 42 deals completed in the previous session.
These deals were carried out across admitted stocks, including Afriland Properties Plc, CSCS Plc, FrieslandCampina Wamco Nigeria Plc, and Food Concepts Plc.
Great Nigeria Insurance (GNI) Plc remained the most traded stock by value on a year-to-date basis, with 3.4 billion units sold for N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units valued at N6.5 billion, and CSCS Plc with 81.9 million units exchanged for N6.0 billion.
GNI Plc also closed the day as the most traded stock by volume on a year-to-date basis, with 3.4 billion units worth N8.4 billion, followed by Infracredit Plc with 2.3 billion units transacted for N6.5 billion, and Resourcery Plc with 1.1 billion units traded for N415.7 million.
