NASD Index Jumps to 711.00 Points After 0.70% Boost

NASD Exchange bullish

By Adedapo Adesanya

Unlisted securities admitted on the NASD Over-the-Counter (OTC) Securities Exchange pulled a 0.7 per cent appreciation to close in the positive territory on Tuesday, August 11.

This signified the first gain this week as the market made no movement at the first trading session of the week on Monday.

The NASD Unlisted Securities Index (NSI) moved up to 711.00 points at the close of business, rising by 0.7 per cent or 4.93 points from the prior 706.07 points.

Likewise, the market capitalisation rose by N3.63 billion or 0.7 per cent to close at N522.28 billion compared to N518.65 billion at the previous session.

This lift came from the day’s only gainer, Niger Delta Exploration and Production (NDEP) Plc, which saw its share price receive a 6.78 per cent or N20 boost to close at N295 per share from N275 per share the day before.

The session, however, saw a drop in the volume of shares transacted as a total of 53,432 units of securities were transacted by investors, 63.5 per cent lower than the 146,490 units recorded at the market on Monday

At the previous session, the value of shares exchanged by traders rose to N2.44 million and at the close of the session on Tuesday, it further increased by 186.1 per cent to N13.99 million.

But the number deals executed during the session decreased by 68.8 per cent to five deals compared to 16 deals executed on Monday.

Tuesday’s deals were made on securities belonging to FrieslandCampina WAMCO Nigeria Plc, which marked three deals, while the day’s advancer, Niger Delta Exploration and Production (NDEP) Plc alongside Mixta Real Estate Plc, made one deal apiece.

ARM Life Plc closed the session as the company with the highest volume of shares traded (year-to-date) with 7.4 billion units of its shares worth N4.6 billion. Central Securities Clearing Systems (CSCS) Plc was in second place with 200.0 million units worth N2.7 billion, while Food Concept Plc held the third position with 125.1 million units of its shares worth N88.1 million.

Also, ARM Life Plc retained its position as the highest value of stocks traded with 7.4 billion units of its securities traded for N4.6 billion, while CSCS Plc followed with 200.0 million units exchanged for N2.7 billion, with NDEP Plc was in third place with 8.5 million units of its securities valued at N2.6 billion.

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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