NASD OTC Bourse Ends Midweek Session 0.04% Higher

March 9, 2023

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange closed 0.04 per cent higher on Wednesday, March 8 as a result of an improvement in investor sentiment.

During the session, the share price of Geo-Fluids Plc appreciated by 8 Kobo or 6.45 per cent to settle at N1.32 per unit compared with the previous session’s N1.24 per unit.

Consequently, the market capitalisation of the NASD OTC bourse increased by N340 million to settle at N945.07 billion, in contrast to Tuesday’s value of N944.73 billion.

In the same vein, the NASD Unlisted Securities Index (NSI) appreciated by 0.26 basis points to end the day at 719.23 basis points as against the 718.97 basis points recorded at the previous session.

On the activity chart, there was a rise in thevolume of securities recorded during the trading day by 101.4 per cent, as traders bought and sold a total of 65.1 million units of shares compared with the 32.3 million units of shares transacted a day earlier.

In the same pattern, there was a 136.4 per cent rise in the value of shares traded by investors to N85.5 million from the N36.2 million achieved on Tuesday.

However, the number of deals carried out at the close of business decreased by 9.1 per cent to 10 deals from the 11 deals executed in the preceding trading session.

When trading activities were brought to an end, Geo-Fluids Plc remained the most traded stock by volume on a year-to-date basis with 414.9 million units valued at N434.5 million, UBN Property Plc stood in second place with 350.3 units valued at N296.2 million, while VFD Group Plc was in third place with 7.2 million units valued at N1.6 billion.

Similarly, VFD Group Plc ended the session as the most traded stock by value on a year-to-date basis with the sale of 7.2 million units worth N1.6 billion, Geo-Fluids Plc trailed with 414.9 million units worth N434.5 million, while UBN Property Plc was in third place with 350.3 million units valued at N296.2 million.

Adedapo Adesanya

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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