NASD Maintains Positive Momentum as 3 Stocks Record Gains Friday

Nigeria's Unlisted Securities Market Sheds 0.78%, NASD Shares up 8.31%
Picture Credit: NASD Twitter

By Adedapo Adesanya

The NASD Over the Counter (OTC) Securities Exchange continued to point north as major parameters recorded gains at the last trading day of the week on Friday, October 11, 2019.

Market capitalisation rose again on Friday by 1.95 percent or N9.79 billion to cap at N512.37 billion against N502.58 billion recorded in the previous session on Thursday.

This also extended to the NASD Security Index (NSI), which gained 13.63 points or 1.95 percent to close at 713.17 points compared with 699.54 points recorded on Thursday.

Also adding to the good outlook of the market’s performance yesterday was the volume of trades, which rose by a whopping 15,996 percent to 5,289,388 units of share transacted from the previous session’s 32,861 units, indicating an increase by 5,256,527 units.

Not exempted was the volume of trade, which went higher by 475 percent or by N20.7 million to N25.1 million as against N4.4 million recorded on Thursday.

However, total number of deals executed further went down as a total of seven deals were executed, lower than the 9 deals executed at the unlisted securities exchange yesterday.

The market was agog with gainers led by Friesland Campina Wamco Plc as the company’s shares rose by N4.65 at the market to N135 per share from N135.35 per share in the previous session.

Niger Delta Exploration and Production Plc also saw its stock rise by N28.92 to N323.92 per share from the previously quoted N295 per share.

NASD PLC, which is also listed on the same exchanged, gained marginally on Friday as its share price gained one kobo to trade at N3.50 per share from N3.49 previously quoted.

Central Securities Clearing System (CSCS) Plc retained top position in terms of value by year-to-date with 202,272,698 units worth N2.53 billion transacted from the beginning of this year till date, with UBN Properties following on the list with 884,529,600 units of its stocks sold for N1.2 billion.

While Food Concept Plc retained the top spot on the top trades position by volume (year to date) with a total transaction of 1,158,797,004 units valued at N843.97 billion, while UBN Properties followed with 891,085,220 units worth N1.21 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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