Adedapo Adesanya
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange witnessed the dominance of the bulls on Thursday after it was strengthened by 0.75 per cent at the close of transactions.
Business Post reports that the NASD Unlisted Security Index (NSI) appreciated by 5.47 points to end the day at 737.96 points as against the 732.49 points recorded at the previous session, while the market capitalisation jumped by N4.76 billion from N636.66 billion it quoted at the previous session to N641.42 billion.
The positive performance of the NASD OTC market was influenced yesterday by the trio of Nigerian Exchange (NGX) Group Plc, Central Securities Clearing Systems (CSCS) Plc, and NASD Plc.
NGX Group Plc appreciated by N1.47 or 9.5 per cent to close at N16.15 per unit as against the previous day’s N14.68 per unit on the back of news that it would soon be listed on the NGX Limited, which is the main stock exchange in Nigeria.
CSCS Plc made a 50 kobo or 1.6 per cent appreciation to sell at N17 per share compared to N16.50 per share it traded on Wednesday, while NASD Plc grew by 19 kobo or 2.9 per cent from the previous N11.81 per unit to N12.00 per unit.
The market also registered three price losers on Thursday led by Niger Delta Exploration and Production (NDEP) Plc, which fell by N2.50 or 1.0 per cent to close at N247.50 per share in contrast to the preceding day’s N250.00 per share.
Afriland Properties Plc lost 5 kobo or 4.4 per cent to settle at N1.15 per unit versus N1.20 per unit, while Mixta Real Estate Plc declined by 2 kobo or 1.0 per cent to N1.95 per share from N1.97 per share.
On the activity chart, there was a drop in the volume of securities traded at the bourse by 65.9 per cent as investors exchanged 1.0 million units compared with the 3.0 million units transacted by market participants on Wednesday.
Likewise, there was a downward movement in the value of shares traded at the bourse by 76.7 per cent as shares worth N11.4 million exchanged hands compared with the previous day’s N48.9 million.
In the same vein, the number of deals carried out during the trading session went down by 52.8 per cent to 17 deals from the 36 deals executed at the preceding trading day.
Food Concepts Plc closed the session as the company with the highest volume of trades (year-to-date) with 11.4 billion units of its shares worth N14.4 billion. Geo Fluids Plc has traded 1.0 billion units for N700.1 million, while NGX Group Plc has exchanged 456.5 million units for N9.2 billion.
Also, Food Concepts Plc ended the trading session as the organisation with the highest value of transactions on a year-to-date basis with 11.4 billion units worth N14.4 billion. NGX Group Plc followed with 456.4 million units valued at N9.2 billion, while VFD Group Plc was third with 10.4 million units valued at N3.5 billion.
