NASD OTC Gets 0.23% Boost from Three Securities

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange returned to the bullish zone on Tuesday, August 10 as it gained 0.23 per cent, driven by the three companies.

These three securities were led by Nipco Plc, which appreciated by N7 or 9.1 per cent to trade at N77 per share compared with the previous day’s N70 per share.

It was followed by Nigerian Exchange (NGX) Group Plc, which improved by 12 kobo or 0.7 per cent to finish at N16.76 per unit versus N16.64 per unit it finished a day earlier.

Also, Food Concepts Plc increased its value during the session by 7 kobo or 8.1 per cent to close at 86 kobo per share in contrast to 79 kobo per share it traded at the previous session.

Business Post reports that the trio neutralised the 9 kobo or 0.5 per cent loss posted by Central Securities Clearing Systems (CSCS) Plc. The stock went down to N17 per unit from N17.09 per unit it closed on Monday.

At the close of business, the NASD Unlisted Security Index (NSI) grew by 1.74 points to 751.41 points from 749.67 points, while the market capitalisation rose by N1.5 billion to N653.10 billion from N651.60 billion.

Yesterday, the trading volume rose by 649.9 per cent to 31.3 million units from 4.2 million units, the trading value increased by 48.4 per cent to N127.5 million from N85.9 million, while the number of deals increased by 40.9 per cent to 31 deals from 22 deals.

When trading activities were paused for the day, Geo Fluids Plc maintained its position as the most active stock by volume (year-to-date) for trading 1.0 billion units of its shares for N700.1 million. NGX Group Plc trailed for transacting 385.3 million units valued at N8.1 billion, while Food Concepts Plc has exchanged 294.5 million units worth N385.5 million.

On the flip side, the most active stock by value (year-to-date) remained NGX Group Plc with the sale of 385.3 million units of its securities for N8.1 billion. VFD Group Plc has transacted 6.3 million units of its securities for N2.0 billion, while Niger Delta Exploration and Production (NDEP) Plc has traded 3.3 million units of its stocks for N1.0 billion.