Unlisted Stock Exchange Extends Rally by 0.35%

By Adedapo Adesanya

The bulls maintained their stronghold in the NASD Over-the-Counter (OTC) Securities Exchange, wading off the bears after they fortified their strength by 0.35 per cent at the close of trading activities on Monday.

The unlisted stock exchange cemented its stay in the green territory yesterday as a result of the growth posted by the duo of Central Securities Clearing System (CSCS) Plc and Acorn Petroleum Plc, with the former rising by 74 Kobo to N18.60 per unit from N17.86 per unit and the latter growing by 1 Kobo to 17 Kobo per unit from 16 Kobo per unit.

At the end of the session, the market capitalisation of the bourse moved up by N3.72 billion to N1.078 trillion from N1.074 trillion, as the NASD Unlisted Securities Index (NSI) increased by 2.69 points to 779.39 points from 776.70 points.

There was an upswing in the volume of securities traded by investors during the session by 113.2 per cent to 4.0 million units from the 2.2 million transacted last Friday.

However, the value of shares traded at the session dropped by 70.8 per cent to N3.8 million from the preceding session’s N13.1 million, as the number of deals executed by traders went down by 65.2 per cent to eight deals from the 23 deals carried out at the last trading day.

CSCS Plc finished the session as the most traded stock by volume on a year-to-date basis with 1.1 billion units valued at N21.2 billion, trailed by Geo-Fluids with the sale of 625.8 units worth N1.1 billion, and Industrial and General Insurance (IGI) Plc with 608.3 million units valued at N48.1 million.

Also, CSCS Plc remained as the most traded stock by value on a year-to-date basis with 1.1 billion units worth N21.2 billion, followed by VFD Group with 18.9 million units valued at N4.2 billion, and Geo-Fluids Plc with a turnover of 625.8 million units worth N1.1 billion.