Nipco Pushes NASD OTC Exchange Higher by 0.04%

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange finished in the bullish zone on Wednesday, August 17 as a positive price movement from a company lifted the bourse by 0.04 per cent.

Nipco Plc was the sole gainer and price mover and it closed the session higher by N2 to settle at N60.00 per share compared with the previous day’s value of N58.00 per share.

This increased the market capitalisation of the bourse by N370 million to wrap the day at N996.72 billion in contrast to Tuesday’s value of N996.35 billion.

Following the same trend, the session ended with the NASD Unlisted Securities Index (NSI) increasing by 0.29 points to wrap the session at 757.15 points compared with the 756.86 points recorded in the previous session.

There was a drop in the volume of securities traded at the bourse as investors exchanged 95,390 units, 83.8 per cent lower than the 571,592 units traded at the preceding session.

The value of shares traded at the session also fell by 42.4 per cent to N5.9 million from N23.2 million, while the number of deals depreciated by 61.1 per cent to seven from the 18 deals achieved a day earlier.

AG Mortgage Bank Plc remained the most traded stock by volume (year-to-date) with the sale of 2.3 billion units of stocks valued at N1.2 billion, Central Securities Clearing System (CSCS) Plc stood in second place with the sale of 686.5 million units of securities worth N14.2 billion, while Food Concepts Plc was in third place with a turnover of 147.8 million units of shares valued at N128.4 million.

Also, CSCS Plc was the most traded stock by value (year-to-date) with a turnover of 686.5 million units exchanged for N14.2 billion, VFD Group Plc was in second place with a turnover of 11.1 million units of stocks valued at N3.3 billion, while FrieslandCampina WAMCO Nigeria Plc was in third place with the sale of 14.0 million units valued at N1.7 billion.