Three Securities Lift NASD Exchange by 1.03%

By Adedapo Adesanya

There was a sigh of relief at the NASD Over-the-Counter (OTC) Securities Exchange on Tuesday following the 1.03 per cent growth recorded during the session.

The gains achieved yesterday were boosted by the positive price movements of three companies led by Nipco Plc, which rose by N6.70 or 9.1 per cent to close at N73.70 per share versus N67 per share of the preceding day.

Also, Central Securities Clearing Systems (CSCS) Plc appreciated by 45 kobo or 2.5 per cent to settle at N18 per unit in contrast to Monday’s N17.55 per unit.

The third stock was FrieslandCampina WAMCO Nigeria Plc, which improved by N2 or 1.7 per cent to close the session at N120 per share in contrast to N118 per share of the previous session.

These unlisted equities expanded the market capitalisation of the NASD Exchange by N5.46 billion to N537.89 billion from N532.43 billion and raised the NASD Unlisted Securities Index (NSI) by 7.68 points to 756.72 points from 749.04 points.

Business Post reports that there was a price decliner yesterday and this was Nigerian Exchange (NGX) Group Plc as its price went down by 2.4 per cent or 50 kobo to close at N20.73 per unit compared to N21.23 per unit it closed on Monday.

During the session, the volume of securities transacted by investors increased by 23.7 per cent to 1.3 million units from the previous day’s 1.0 million units.

However, the value of shares traded reduced by 4.7 per cent to N34.1 million from N35.8 million, while the number of deals went down by 15.9 per cent to 37 deals from 44 deals.

At the close of business, NGX Group was the most traded stock by volume (year-to-date) with 242.7 million units worth N5.5 billion. Swap Technologies and Telecomms Plc has traded 46.6 million units worth N41 million, while CSCS Plc has exchanged 28.9 million units worth N449.4 million.

Also, NGX Group finished the session as the most traded stock by value (year-to-date) with 242.7 million units valued at N5.5 billion. The second place was occupied by Niger Delta Exploration and Production (NDEP) Plc with 2.8 million units valued at N864.5 million, while the third spot was taken by Friesland with 5.7 million units valued at N724.5 million.