Adedapo Adesanya
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange opened the first trading week on Tuesday, May 30, in optimism as it rose by 0.45 per cent as Nigeria swore in a new president who promised to boost local and foreign investments.
The NASD market capitalisation consequently increased by N4.50 billion to N1.006 trillion from N1.001 trillion, as the NASD Unlisted Securities Index (NSI) appreciated by 3.26 points to end the day at 727.38 points as against the 724.12 points it recorded at the previous session.
The bullishness came as three securities – Niger Delta Exploration and Production (NDEP), Nipco Plc, and NASD Plc lifted the market index and valuation.
NDEP Plc gained N19.00 during the session to close at N250.00 per unit compared with the previous session’s N231.00 per unit, Nipco Plc improved by N2.00 to close at N72.00 per unit versus N70.00 per unit, and NASD Plc rose by N1.40 to close at N15.50 per share versus the previous session’s N14.10 per share.
On the activity chart, the volume of securities traded at the session increased by 2,170.9 per cent to 2.7 million units from 117,100 units, the value of shares transacted jumped by 4,000.4 per cent to N171.5 million from N4.2 million, and the number of deals increased by 333.3 per cent to 26 deals from the six deals reported in the previous trading session.
The market closed with no other price mover as Geo-Fluids Plc remained the most traded stock by volume (year-to-date) with 832.1 million units valued at N1.3 billion, Industrial and General Insurance (IGI) Plc stood in second place with 627.7 units worth N49.4 million, while UBN Property Plc was in third place with 390.9 million units valued at N332.0 million.
VFD Group Plc maintained its position as the most traded stock by value (year-to-date) with 10.6 million units worth N2.4 billion, Geo-Fluids Plc followed with 832.1 million units worth N1.3 billion, and FrieslandCampina Wamco Nigeria Plc was in third place with 17.1 million units valued at N1.2 billion.
