Three Stocks Push NASD OTC Market Up by 0.10%

By Adedapo Adesanya

The first trading session at the NASD Over-the-Counter (OTC) Securities Exchange in 2023 closed on a positive note as it appreciated by 0.10 per cent on Tuesday, January 3.

The NASD OTC market gained yesterday due to the rise in the prices of three securities led by FrieslandCampina Wamco Nigeria Plc, which expanded by N2.54 to close at N70.00 per share, in contrast to last Friday’s N67.46 per share.

Air Liquide Plc improved during the session by 5 Kobo to trade at N5.00 per unit compared with the preceding session’s value of N4.95 per unit, as UBN Property Plc increased its value by 1 Kobo to close at 81 Kobo per unit compared with the previous closing price of 80 Kobo per unit.

These three stocks jerked up the market capitalisation of the exchange by N950 million to N933.46 billion from N932.51 billion and raised the NASD Unlisted Securities Index (NSI) by 0.73 points to 710.39 points from 709.66 points.

During the session, the volume of securities traded at the bourse went down by 82.3 per cent to 193,093 units from 1.1 million units, the value of shares decreased by 86.7 per cent to N16.9 million from N126.6 million, and the number of trades shrank by 48.5 per cent to 17 deals from 33 deals.

At the close of transactions, UBN Property Plc was the most traded stock as it transacted 100,000 units valued at N81,000 and was followed by VFD Group Plc, which exchanged 59,700 units for N14.6 million, and FrieslandCampina Wamco Nigeria Plc, which sold 21,140 units valued at N1.5 million.

However, the most active stock by value at the close of business was VFD Group Plc as it recorded N14.6 million from the sale of 59,700 shares. FrieslandCampina Wamco Nigeria Plc occupied the second spot for trading 21,140 units valued at N1.5 million, while 11 Plc took charge of third place after selling 4,754 units traded valued at N732,116.