NGX Group, Food Concepts Rescue NASD Exchange by 0.07%

By Adedapo Adesanya

The buying and selling of unlisted stocks at the NASD Over-the-Counter (OTC) Securities Exchange closed on a positive note on Friday with a marginal 0.07 per cent growth.

This was largely driven by the gains posted by Nigerian Exchange (NGX) Group Plc and Food Concepts Plc as the former appreciated by 14 kobo or 1.1 per cent to close at N13.17 per share compared with the previous N13.03 per share, while the latter grew by 8 kobo or 8.8 per cent to settle at 91 kobo per unit in contrast to 83 kobo per unit it traded on Wednesday.

At the close of business yesterday, the market capitalisation of the NASD Exchange increased by N460 million to N637.16 billion from N636.70 billion, while the NASD Unlisted Security Index (NSI) rose by 0.52 points to 733.06 points from 732.54 points.

Business Post reports that the unlisted securities market witnessed a lone price loser yesterday and it was NASD Plc, losing 64 kobo or 5.49 per cent to close at N11.01 per unit compared with the preceding day’s N11.65 per unit.

During the session, investors bought and sold a total of 5.9 million stocks compared with the 8.3 billion stocks transacted a day earlier, showing a 99.9 per cent decline in the volume of trades.

In the same vein, market participants transacted shares valued at N10.1 million in contrast to shares worth N10.4 billion traded on Wednesday, indicating a decline of 99.9 per cent, while the number of deals went down by 32.1 per cent to 19 deals from the previous day’s 28 deals.

Food Concepts Plc closed the session as the most traded stock by volume on a year-to-date basis with 11.4 billion units worth N14.4 billion. Geo Fluids Plc traded 1.0 billion units valued at N700.1 million, while NGX Group Plc has exchanged 454.9 million units for N9.2 billion.

Also, Food Concepts Plc remained as the most traded stock by value on a year-to-date basis with 11.4 billion units sold for N14.4 billion, NGX Group Plc followed with 454.9 million units worth N9.2 billion, while VFD Group Plc took the third spot with 10.4 million units valued at N3.5 billion.

The market will not trade on Friday, October 1 which has been declared as a public holiday to celebrate the country’s 61st Independence Day.