NASD OTC Market Closes 0.25% Higher Thursday

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange closed 0.25 per cent higher on Thursday, February 9 on the back of the 50 Kobo improvement in the price of Central Securities Clearing System (CSCS) Plc.

The share price of the company’s stock ended the trading session at N13.50 per unit, in contrast to the N13.00 per unit it ended a day earlier.

As a result, the value of the NASD OTC market increased yesterday by N2.3 billion to N931.92 billion from the preceding day’s N929.62 billion.

Likewise, the NASD Unlisted Securities Index (NSI) expanded during the session by 1.76 points to wrap up at 709.22 points versus the 707.46 points it finished on Wednesday.

Business Post reports that the alternative bourse recorded two price losers on Thursday, with the price of Niger Delta Exploration and Production (NDEP) Plc declining by 37 Kobo to N190.00 per unit from N190.37 per cent, and Geo-Fluids Plc going down by 3 Kobo to N1.01 per share from N1.04 per share.

Yesterday, the volume of unlisted securities traded by market participants fell by 39.6 per cent to 1.7 million units from the 2.7 million units of securities transacted in the preceding session.

Also, the value of shares exchanged by the market participants depreciated by 70.6 per cent to N5.2 million from N17.6 million, and the total number of deals executed at the bourse yesterday slowed by 60.9 per cent to nine deals from 23 deals.

Geo-Fluids Plc ended the day as the most traded stock by volume on a year-to-date basis with the sale of 322.7 million units worth N318.7 million, UBN Property Plc stood in second place with 36.3 million units valued at N26.1 million, while NASD Plc was in third place with 3.0 million units valued at N36.6 million.

Also, Geo-Fluids Plc maintained its position as the most active stock by value on a year-to-date basis, with 322.7 million units sold for N318.7 million, FrieslandCampina WAMCO Group Plc was in second place with 2.5 million units valued at N161.8 million, while VFD Group Plc was in third place for trading 561,810 units worth N137.0 million.