NASD OTC Market Gains N22.58bn, Index Hits 4,533.41 Points

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange rose a further 0.84 per cent on Wednesday, September 8, with the market capitalisation growing by N22.58 billion to N2.721 trillion from N2.694 trillion, and the NASD Security Index (NSI) expanding by 37.62 points to 4,533.41 points from 4,495 points.

Business Post reports that the midweek trading session ended with two price losers and two price gainers, led by Central Securities Clearing System (CSCS) Plc, which chalked up N4.57 to close at N105.87 per share compared with the preceding day’s N101.30 per share, and Food Concepts Plc, which increased by 8 Kobo to close at N2.49 per unit compared with Tuesday’s N2.41 per unit.

On the flip side, NASD Plc crashed by N3.45 to sell at N31.20 per share, in contrast to the previous session’s N34.65 per share, and FrieslandCampina Wamco Nigeria Plc depreciated by 36 Kobo to close at N169.99 per unit compared with the preceding day’s N170.35 per unit.

Wednesday’s trading data showed that investors traded 998,890 units of securities compared with the previous day’s 215,005 units of securities, indicating a 364 per cent rise. The value of securities went up by 84.0 per cent to N61.2 million from N33.2 million, and the number of deals jumped by 78.9 per cent to 34 deals from 19 deals.

At the close of transactions, Great Nigeria Insurance (GNI) Plc was the most traded stock by value on a year-to-date basis, with a turnover of 3.4 billion units valued at N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with the sale of 2.3 billion units for N6.5 billion, and CSCS Plc with 81.6 million units exchanged for N5.9 billion.

Also, GNI Plc closed the trading day as the most traded stock by volume on a year-to-date basis, with 3.4 billion units worth N8.4 billion, followed by Infracredit Plc with 2.3 billion units traded for N6.5 billion, and Resourcery Plc with 1.1 billion units transacted for N415.7 million.