UBN Property Pushes NASD Exchange to 0.15% Growth

By Adedapo Adesanya

The gains recorded by the share price of UBN Property Company, a subsidiary of Union Bank of Plc, on the floor of the NASD Over-the-Counter (OTC) Securities Exchange spurred the market to close in the positive territory on the Monday, January 20.

Ending the session as the only gainer, the real estate company saw its share price close at N1.62 per share from N1.49 per share after rising by 13 kobo, equivalent to 8.02 percent.

At the close of business, the NASD Unlisted Securities Index (NSI) increased by 0.15 percent from 702.62 points to 703.64 points, indicating a rise of 1.02 points. On the other hand, the market capitalisation appreciated by N730 million to N505.52 billion from N504.79 billion, indicating a 0.14 percent rise.

Business Post gathered from data on the exchange that the total volume of shares transacted by investors during the session significantly increased by 8,472 percent from 4,470 units previously recorded at the close of transactions on Friday to 404,190 units.

The total value of stocks exchanged by investors at the week’s opening session was N1.6 million, higher than the N583,020 transacted last Friday, representing an increase of 165 percent.

In addition, the exchange also saw a higher number of deals executed by traders at the market, rising by 250 percent or five deals to seven deals from two deals transacted at the previous session.

On Monday, ARM Life Plc still retained its position as the most traded stock by volume (year-to-date) with 29 million units of its shares worth N18.3 million. CSCS Plc ended the day at second place with 816,975 units worth N9.4 million, while Niger Delta Exploration and Production (NDEP) Plc occupied the third place with 560,600 units traded at N176.8 million.

Niger Delta Exploration and Production (NDEP) Plc, however, remained as the most active stock by value (year-to-date) with 560,600 units of its securities worth N176.8 million exchanged by investors. ARM Life Plc remained in second place with 29,000,000 units transacted for N18.3 million, while CSCS Plc was in third spot with 816,975 units worth N9.4 million.