NASD OTC Exchange Records 0.05% Growth

NASD OTC Securities Exchange

By Adedapo Adesanya

The bulls returned to the floor of the NASD Over-the-Counter (OTC) Securities Exchange on Tuesday as the market saw a 0.05 per cent growth.

At the end of the day’s trading, the NASD unlisted securities index (NSI) increased by 0.33 points to 717.10 points from 716.77 points.

In the same vein, the bourse’s market capitalisation increased by N240 million to settle at N526.76 billion versus the preceding session’s N526.52 billion.

During the trading day, a total of 85,450 units of shares were transacted by investors, 680.9 per cent higher than the 10,943 units of securities transacted on Monday, while the value of the securities increased by 5,666.3 per cent to N10.7 million from N185,672 achieved at the preceding session.

These volume of shares stocks transacted at the unlisted securities market yesterday were executed in two deals on stocks belonging to FrieslandCampina WAMCO Nigeria Plc.

At the close of transactions, the equity price of the milk producer appreciated by 0.20 per cent or 35 kobo to N125.29 per unit as against N125.04 per unit it previously sold.

On the activity chart, ARM Life Plc stood firm as the most traded stock by volume (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 203.1 million units traded at N2.7 billion while Food Concepts Plc followed in third place with 128.1 million units traded at N90.2 million.

In terms of the value of trades (year-to-date), ARM Life Plc still retained the top spot for trading 7.4 billion units of its shares worth N4.6 billion. The Niger Delta Exploration and Production (NDEP) Plc came next with 10.4 million units of securities exchanged for N3.2 billion while CSCS Plc sat in third place after transacting 203.1 million units valued at N2.7 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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