Adedapo Adesanya
By Adedapo Adesanya
Transactions on the NASD Over-the-Counter (OTC) Securities Exchange started on a positive note on Monday with a 0.05 per cent growth.
Shares of Nigerian Exchange (NGX) Group Plc were the major driver of the bullish outcome reported at the unlisted security market yesterday.
The company saw its stocks gain 16 kobo or 0.9 per cent during the session to close at N17.30 per unit compared to N17.14 per unit of last Friday.
This was enough to lift the NASD from the dungeon as the market capitalisation of the bourse increased by N310 million to close the day at N640.08 billion in contrast to the preceding session’s N639.77 billion.
In the same vein, the NASD Unlisted Security Index (NSI) improved by 0.36 basis points to wrap the session at 736.43 points compared with 736.07 points recorded at the previous session.
Business Post gathered that a total of 1.4 million units of shares were transacted at the NASD OTC market yesterday, 25.2 per cent lower than the 1.9 million units recorded at the previous session.
Likewise, there was a decline in the value of shares traded on the first trading day of the week by 21.9 per cent to N24.7 million from N37.1 million.
These trades were carried out in 20 deals compared to the 26 deals recorded last Friday, signifying a 23.1 per cent decrease.
When trading activities were wrapped up for the day, Geo Fluids Plc remained as the most active stock by volume (year-to-date) for transacting 1.0 billion stocks for N700.1 million. Also, NGX Group Plc retained its second spot for exchanging 398.5 million units for N8.3 billion, while Food Concepts Plc was in third place for selling 295.0 million units valued at N386 million.
However, the most active stock by value (year-to-date) was NGX Group Plc with the sale of 398.5 million securities worth N8.3 billion, followed by VFD Group Plc with 6.3 million securities worth N2.0 billion, and Niger Delta Exploration and Production (NDEP) Plc with 3.3 million units valued at N1.0 billion.
