NASD Plc Lifts OTC Stock Market by 0.04%

September 17, 2021
OTC Stock Market

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange returned to the positive zone with a 0.04 per cent growth on Thursday inspired by a bullish price movement in the shares of NASD Plc.

The share price of the company appreciated by 60 kobo or 8.9 per cent during the session to settle at N6.71 per unit compared with the previous closing price of N6.11 per unit.

This raised the total value of stocks on the OTC stock market by N230 million at the close of business to N639.55 billion from N639.32 billion it closed on Wednesday.

Also, the positive performance lifted the NASD Unlisted Security Index (NSI) by 0.27 points to wrap the session at 735.82 points compared with 735.55 points recorded at the previous session.

Business Post reports that yesterday, the bourse had a price loser and it was the Nigerian Exchange (NGX) Group Plc as its equity price went down by 2 kobo or 0.2 per cent to finish at N12.98 per share versus N13.00 per share it ended a day before.

When market activities were wrapped up on Thursday, shares worth N34.6 million were traded by investors, 11.7 per cent lower than the N39.1 million achieved on Wednesday, while 2.9 million units of securities exchanged hands in the session, 24.7 per cent lower than the 3.9 million units of securities traded at the preceding session, with the number of deals falling by 20.9 per cent to 34 deals from 43 deals.

However, Geo Fluids Plc remained the active stock by volume (year-to-date) as it has traded 1.0 billion units of its shares for N700.1 million. NGX Group Plc has transacted 436.2 million units valued at N8.9 billion, while Food Concepts Plc has exchanged 297.5 million units worth N387.8 million.

In terms of value, NGX Group maintained its top position with the sale of 436.2 million units of its securities for N8.9 billion, VFD Group Plc followed with 9.4 million units of its securities valued at N3.1 billion, while FrieslandCampina WAMCO Nigeria Plc has traded 8.3 million units of its stocks worth N1.0 billion.

Adedapo Adesanya

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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