Securities on NASD Trading Platform Gain 0.64%

By Adedapo Adesanya

Stocks admitted to the trading platform of the NASD Over-the-Counter (OTC) Securities Exchange appreciated by 0.64 per cent on Tuesday.

The NASD trading platform recorded growth in both its main index and the market capitalisation, unlike the previous day when the exit of Nigerian Exchange (NGX) Group Plc caused the market to close mixed.

At the close of transactions yesterday, the NASD Unlisted Security Index (NSI) went higher by 4.74 points to 745.44 points from 740.70 points, while the total of securities increased by N3.91 billion to N615.86 billion from N611.95 billion.

The day ended positively as a result of the upward movements in the prices of NASD Plc and Central Securities Clearing Systems (CSCS) Plc as the former rose by 76 kobo or 6.3 per cent to N12.00 per unit from N11.24 per unit, while the latter jumped by 72 kobo or 4.1 per cent to N17.72 per share from N17 per share.

Business Post reports that the market was not without a price loser as the stocks of Afriland Plc went down by 2 kobo or 1.9 per cent to close at N1.03 per unit compared to N1.05 per unit it closed on Monday.

A look at the level of activity showed that the volume of securities traded at the bourse by investors increased by 247.1 per cent to 991,482 units from the 285,650 units achieved a day earlier.

Also, the value of shares transacted by market participants recorded a 382.1 per cent surge as investors traded securities worth N24.4 million in contrast to the N5.1 million posted on Monday.

These trades were carried out in 10 deals, 9.1 per cent lower than the 11 deals executed at the first trading session of this week.

Food Concepts Plc maintained its position as the most traded stock by volume on a year-to-date basis with a turnover of 11.4 billion units valued at N14.4 billion, followed by Geo Fluids Plc with a turnover of 1.0 billion units worth N700.1 million and the now-exited NGX Group Plc with a turnover of 456.5 million units traded for N9.2 billion.

In terms of value, Food Concept Plc also claimed the first spot for selling 11.4 billion units of its securities worth N14.4 billion, followed by NGX Group Plc with 456.5 million units valued at N9.2 billion, and VFD Group Plc with 10.4 million units transacted for N3.5 billion.