OTC Exchange Rises 0.38 in First Post-Christmas Session

December 29, 2022
OTC stock exchange

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange closed in the positive territory, climbing by 0.38 per cent on Wednesday, December 28.

Business Post reports that the duo of FrieslandCampina WAMCO Nigeria Plc and Niger Delta Exploration and Production (NDEP) Plc helped the market capitalisation of the OTC exchange rise by N3.53 billion to close at N928.59 billion against the previous value of N925.06 billion.

Equally, the NASD Unlisted Securities Index (NSI) jumped by 2.68 points during the session to wrap up at 706.68 points versus the preceding session’s 704.00 points.

In the midst of the growth, the share price of UBN Property Plc recorded a 4 Kobo loss to end the day at 77 Kobo per unit, in contrast to the previous session’s 81 Kobo per unit.

The day’s trading data showed that there was a fall in the volume and value of shares transacted by traders while the number of deals increased.

The volume of unlisted securities traded by market participants stood at 178,685 units, in contrast to the 35.0 million units of securities transacted at the preceding session, indicating a slump of 99.5 per cent.

Likewise, the value of shares exchanged by the market participants depreciated by 91.4 per cent to N11.9 million from N138.0 million, while the total number of deals executed at the bourse yesterday improved by 600 per cent to 14 deals from two deals.

AG Mortgage Bank Plc remained the most traded stock by volume on a year-to-date basis, with the sale of 2.3 billion units worth N1.2 billion, Central Securities Clearing System (CSCS) Plc also retained the second spot with the sale of 688.5 million units valued at N14.3 billion, while Lighthouse Financial Services Plc was in third place for trading 224.7 million units valued at N112.3 million.

Also, CSCS Plc maintained its position as the most active stock by value on a year-to-date basis with a turnover of 688.5 million units valued at N14.3 billion, VFD Group Plc was in second place with 29.1 million units worth N7.7 billion, while FrieslandCampina WAMCO Nigeria Plc retained the third place with the sale of 18.4 million units valued at N2.0 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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