NASD OTC Exchange Sustains Growth by 0.34%

NASD OTC Exchange

By Adedapo Adesanya

Unlisted securities admitted on the NASD Over-the-Counter (OTC) Securities Exchange on Wednesday welcomed the bulls again at the close of the trading session.

At the market yesterday, the NASD unlisted securities index (NSI) moved up by 0.34 per cent or 2.39 points to 713.71 points from 711.00 points recorded at Tuesday’s session.

In the same trend, the bourse’s market capitalisation closed N524.04 billion or 0.34 per cent higher to N1.76 billion from N522.28 billion it ended on Tuesday.

At the previous session, the market had been lifted by 0.70 per cent by a bellwether, Niger Delta Exploration and Production (NDEP) Plc.

Again on Wednesday, NDEP Plc, which closed as the day’s single advancer, further added N9.67 to its price to settle at N304.67 per share compared with the previous day’s N295 per share.

The session saw a rise in the total volume of shares by 65.6 per cent to 88,485 units from 53,432 units on Tuesday.

These stocks were recorded from six deals executed on securities, with NDEP Plc recording three deals, while Mixta Real Estate Plc had two deals, with Central Securities Clearing Systems (CSCS) Plc recording one deal.

These deals amounted to N9.3 million shares exchanged at the session, lower by 33.5 per cent than the N13.99 million realised at the preceding day.

ARM Life Plc closed the trading day as the most traded stock by volume (year-to-date) with 7.4 billion units of its shares worth N4.6 billion. CSCS Plc was in second place with 200.0 million units traded at N2.7 billion, while Food Concept Plc followed in third place with 125.1 million units traded at N88.1 million.

In terms of the value of trades (year-to-date), ARM Life Plc still retained the top position with a total of 7.4 billion units worth N4.6 billion. CSCS Plc came in second place with 200.0 million units valued at N2.7 billion, while NDEP Plc was in the third spot with 8.7 million units worth 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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