Adedapo Adesanya
By Adedapo Adesanya
The total value of stocks trading on the NASD Over-the-Counter (OTC) Securities Exchange increased by 0.15 per cent or N960 million on Wednesday, thanks to Nigerian Exchange (NGX) Group Plc and NASD Plc.
Business Post reports that the market capitalisation of the NASD OTC finished at N637.40 billion compared with N636.44 billion of the preceding session as a result of the gains posted by the duo.
This further stretched the NASD Unlisted Securities Index (NSI) by 1.12 points to 733.35 points from the previous day’s 732.23 points.
During the session, the value of NGX Group Plc increased by 41 kobo or 2.5 per cent to N16.47 per unit from N16.06 per unit, while NASD Plc grew by 37 kobo or 8.8 per cent to N4.22 per share from the previous closing price of N3.85 per share.
A look at the activity level showed that yesterday, investors traded 1.2 million securities at the exchange, 26.8 per cent lower than the 1.6 million securities transacted on Tuesday.
Also, the value of shares traded by market participants declined by 31.9 per cent to N18.8 million from N27.7 million, while the number of deals carried out decreased by 30.4 per cent to 16 deals from the 23 deals executed a day earlier.
When the market closed for the session, Geo Fluids Plc maintained its position as the most active stock by volume (year-to-date) for transacting 1.0 billion units of its shares for N700.1 million. NGX Group Plc retained the second spot for selling 422.1 million units valued at N8.7 billion, while Food Concepts Plc grabbed third place with 295.2 million units worth N386.1 million.
In terms of value, the company with the highest value of stocks traded at the exchange on a year-to-date basis was NGX Group Plc with 422.1 million units of its securities worth N8.7 billion. VFD Group Plc trailed with 6.6 million units worth N2.2 billion, while FrieslandCampina WAMCO Plc has exchanged 8.3 million units for N1.0 billion.
