OTC Market Opens Week 0.07% Higher

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Picture Credit: NASD Twitter

By Adedapo Adesanya

The NASD Over-the-counter (OTC) Securities Exchange recorded a 0.07 per cent appreciation on Monday, February 13, spurred by higher buying interests that saw the value and volume of trades jump.

In the session, the bourse, which admits unlisted securities, recorded an improvement in the share price of UBN Property Plc by 7 Kobo to sell at 86 Kobo per unit compared with the previous price of 79 Kobo per unit.

As a result, the value of the OTC market went up by N680 million to N927.89 billion from N927.21 billion, as the NASD Unlisted Securities Index (NSI) rose by 0.51 points to 706.15 points from the 705.64 points it closed last Friday.

Monday’s market data revealed that there was a jump in the units of securities exchanged as investors bought 100.1 million units of stocks, which is 17,060.6 per cent higher than the 583,341 units of socks transacted in the preceding session.

Also, the value of securities traded increased by 4,987.4 per cent to N86.5 million from N1.7 million, and the number of deals appreciated by 28.6 per cent to nine deals from the seven deals achieved in the previous trading day.

Geo-Fluids Plc remained the most traded stock by volume on a year-to-date basis with 323.3 million units worth N319.2 million, UBN Property Plc stood in second place with 136.3 million units valued at N112.1 million, and NASD Plc was in third place with 3.0 million units valued at N36.6 million.

Also, Geo-Fluids Plc was in the zenith position with N323.3 million invested in 319.2 million stocks. FrieslandCampina Wamco Group Plc was second with 2.5 million units sold for N162.1 million, while VFD Group Plc was in third place with 561,810 units valued at N137.0 million.

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