Unlisted Stock Exchange Appreciates by N2.69bn in 42nd Trading Week

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By Adedapo Adesanya

The 42nd trading week at the NASD Over-the-Counter (OTC) Securities Exchange closed higher by 0.28 per cent as investors saw a reason to mop up shares trading low for gains in the coming weeks.

This expanded traders’ portfolios at the unlisted stock exchange by N2.69 billion, leaving the market capitalisation swelling to N960.88 trillion from the preceding week’s N958.19 billion.

Data obtained by Business Post showed that the NASD Securities Index improved by 2.04 points to close at 727.88 points in contrast to 729.92 points.

The positive movement was triggered by the improvement in the share price of Central Securities Clearing System (CSCS) Plc by 5.6 per cent to N13.99 per unit from the preceding week’s N13.25 per unit.

However, Niger Delta Exploration and Production (NDEP) Plc suffered a 3.0 per cent depreciation to close at N180.42 per share compared with the preceding week’s N186.00 per share.

In the week, which witnessed five trading session, the value of transactions went down by 38.2 per cent to N127.9 million from N206.9 million. However, the volume of trades increased by 39.4 per cent to 1.3 million units from 960,280 units as the number of deals went up by 8.7 per cent to 50 deals from the 46 deals reported in the preceding week.

VFD Group Plc was the most traded stock by volume with 399,961 units, Dufil Plc transacted 300,000 units, NASD Plc exchanged 257,500 units, Nipco Plc recorded 225,278 units, while NDEP Plc traded 97,179 units.

Also, VFD Group Plc was the most traded equity with the sale of N88.4 million, NDEP Plc followed with N17.9 million, Nipco Plc traded N13.5 million, NASD Plc recorded N3.6 million, and Dufil Plc traded N2.7 million.

On a year-to-date basis, investors have transacted 3.5 billion units of stocks valued at N27.2 billion in 2,284 deals.

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