Adedapo Adesanya
By Adedapo Adesanya
Transactions on the floor of the NASD Over-the-Counter (OTC) Securities Exchange further closed positive on Tuesday, March 9.
The unlisted bourse extended its rally yesterday by a marginal growth of 0.02 per cent with the help of an energy firm on the platform, Nipco Plc.
When trading activities closed for the day, the market capitalisation increased by N100 million to settle at N509.85 billion in contrast to N509.75 billion it ended on Monday.
In the same vein, the NASD Security Index (NSI) appreciated by 0.13 points to finish at 710.57 points compared with 710.44 points it closed a day earlier.
As earlier stated, the upward movement in the share price of Nipco by 50 kobo or 0.7 per cent contributed to the extended stay of the bulls at the market on Tuesday. The equity price of the firm ended at N68.50 per unit versus the previous closing price of N68 per unit.
Business Post reports that there was no price loser at the unlisted securities market yesterday.
At the close of trading activities, the volume of shares transacted by investors increased by 1,766.3 per cent to 1.4 million units from the previous day’s 75,500 units.
However, the value of the trades declined by 74.9 per cent to N2.5 million from N9.8 million, while the number of deals increased by 500 per cent to six deals from the single deal recorded at the previous session.
These deals were carried out on UBN Property Plc (three deals), FrieslandCampina WAMCO Nigeria Plc (two deals) and Nipco Plc (one deal).
Further analysis of the activity chart showed that UBN Property Plc was the most active stock by volume (year-to-date) with 16.9 million units of its shares sold for N18.6 million. Central Securities Clearing System (CSCS) Plc was in second place with 4.7 million units worth N74.6 million, while Friesland held the third position with 2.9 million units worth N356.4 million.
In terms of value (year-to-date), Friesland was the most traded stock for transacting 2.9 million units valued at N356.4 million. Niger Delta Exploration and Production (NDEP) Plc trailed with 612,249 units of its securities valued at N198.1 million, while CSCS Plc has traded 4.7 million units worth N74.6 million.
