NASD OTC Exchange Gains 0.89% on Fresh Buying Appetite

By Adedapo Adesanya

There was a fresh buying appetite on the floor of the NASD Over-the-Counter (OTC) Securities Exchange on Wednesday, triggering a 0.89 per cent growth at the close of transactions.

It was a return to the market after a two-day break to celebrate Christmas as the NASD OTC exchange was closed on Monday and Tuesday (December 27 and 28).

Yesterday, the volume of shares transacted by investors increased significantly by 37,615.3 per cent to 50.4 million units from the 133,621 units traded at the last trading session, which was last Friday.

Also, the value of shares transacted by market participants appreciated broadly by 5,973.6 per cent to N901.3 million from N14.8 million, while the number of deals remained unchanged at five deals.

At the close of transactions, the NASD Unlisted Security Index (NSI) improved by 6.57 points to settle at 741.39 points compared with 734.82 points of the previous session.

In the same, the market capitalisation appreciated by N5.56 billion to close the day at N627.79 billion in contrast to N622.23 billion of the preceding session.

It was observed that the growth witnessed yesterday was as a result of the gains posted by Central Securities Clearing Systems (CSCS) Plc and UBN Property Plc.

CSCS appreciated by N1 or 5.6 per cent to trade at N18.00 per unit compared with the previous N17.00 per unit, while UBN Property Plc gained 10 kobo or 8.7 per cent to wrap the day at N1.15 per unit as against the previous N1.05 per unit.

Business Post reports that Food Concepts Plc remained as the most active stock by volume (year-to-date) as it has traded 11.4 billion units of its shares for N14.4 billion, Lighthouse Financial Services Plc trailed with 1.1 billion units traded for N546.2 million, with Geo Fluids Plc trading 1.0 billion units worth N700.1 million to occupy the third position.

Also, Food Concepts Plc was the most traded stock by value (year-to-date) with the sale of 11.4 billion units of its securities for N14.4 billion, followed by Nigerian Exchange (NGX) Group Plc with a turnover of 456.5 million units valued at N9.2 billion, and VFD Group Plc with the sale of 10.4 million units worth N3.5 billion.