NASD OTC Exchange Opens Week with 0.44% Growth

NASD OTC Securities Exchange

By Adedapo Adesanya

The new week opened bullish at the NASD Over-the-Counter (OTC) Securities Exchange on Monday as the market rose 0.44 per cent spurred by gains from two bellwethers.

Stocks prices of both Central Securities Clearing Systems (CSCS) Plc and FrieslandCampina WAMCO Nigeria Plc appreciated at the session.

CSCS Plc saw a price gain of 40 kobo or 2.9 per cent to close at N13.90 per share in contrast to N13.50 per share it closed at the previous session, while FrieslandCampina WAMCO Nigeria moved up by 30 kobo or 0.25 per cent to close at N121.30 per share as against N121 per share it ended at the preceding session.

On the other hand, there was no single decliner at the Monday session.

But the gains by CSCS and FrieslandCampina pushed up the NASD unlisted securities index (NSI) by 3.12 points to 710.89 points from 707.77 points. It also increased the bourse’s market capitalisation by N1.22 billion to N522.19 billion from N520.97 billion.

The session saw a total of 134,723 shares transacted, 98.7 per cent lower than the 10.3 million units transacted at the last session.

There were 13 deals executed during the session at the exchange compared with five deals made last Friday, representing 160 per cent growth.

These deals were executed on securities belonging to FrieslandCampina Plc with nine deals while CSCS Plc recorded three deals with Afriland Properties having a single deal.

At the previous session, the value of transactions totalled N42.3 million but on Monday, it went down by 86.9 per cent to N5.6 million.

ARM Life Plc remained as the most traded stock by volume (year-to-date) yesterday with 7.4 billion units of its shares traded for N4.6 billion, while CSCS Plc was in second place with 197.0 million units traded at N2.6 billion, with Food Concept Plc in third place with 125.0 million units traded at N88 million.

In terms of the value of trades (year-to-date), ARM Life Plc still retained the top position with 7.4 billion units worth N4.6 billion. CSCS Plc followed with 197 million units transacted for N2.6 billion, while Niger Delta Exploration and Production (NDEP) Plc has traded 7.9 million units worth N2.4 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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