OTC Stocks Chalk up 0.44% as 11 Plc, NDEP Point Northwards

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By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange chalked up 0.44 per cent on Wednesday, July 5, after the duo of 11 Plc and Niger Delta Exploration and Production (NDEP) Plc pointed northwards when trading activities were brought to an end.

This resulted in the expansion of the bourse’s total value by N4.7 billion to N1.060 trillion from N1.055 trillion, as the NASD Unlisted Securities Index (NSI) increased by 3.39 points to wrap the session at 766.30 points compared with 762.91 points recorded at the previous session.

Data showed that 11 Plc gained N10.00 yesterday to sell at N154.00 per unit compared with the previous day’s closing price of N144.00 per unit, and NDEP Plc appreciated by N6.00 to quote at N306.00 per share versus Tuesday’s N300.00 per share.

There was a 287.7 per cent rise in the volume of securities traded at the midweek session to 411,974 units from the 106,250 units traded a day earlier.

However, there was a 1.7 per cent slump in the value of shares traded yesterday to N19.95 million from the N20.3 million recorded in the preceding trading session, and the number of deals executed by the market participants decreased by 12.5 per cent to 21 deals from 24 deals carried out on Tuesday.

The OTC stock exchange did not record a price decliner during the session, according to data obtained by Business Post.

The most actively-traded equity in the midweek session by volume on a year-to-date basis was Central Securities Clearing System (CSCS) Plc, which exchanged 2.2 billion units for N42.3 billion. Geo-Fluids stood in second place with 847.9 units valued at N1.4 billion, while Industrial and General Insurance (IGI) Plc was in third place with 630.5 million units valued at N49.7 million.

CSCS Plc also closed the day as the most traded stock by value on a year-to-date basis with 2.2 billion units worth N42.2 billion, trailed by VFD Group with 19.4 million units valued at N4.4 billion, and Geo-Fluids Plc with 847.9 million units valued at N1.4 billion.

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