Unlisted Stocks Extend Rally by 0.60%

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By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange continued its stellar start to the year as it appreciated by 0.60 per cent on Thursday to stretch its consecutive growth to the third trading session.

Business Post reports that the appreciation in the stock price of FrieslandCampina Wamco Nigeria Plc spurred the gains recorded by the market yesterday as the milk maker rose by N2.88 to settle at N70.00 per unit, in contrast to the previous day’s value of N67.12 per unit.

As a result, the market capitalisation of the unlisted stocks on the NASD Exchange closed higher by N5.63 billion to N942.89 billion from N937.26, as the NASD Unlisted Securities Index (NSI) increased by 4.28 points to 717.56 basis points from 713.28 basis points.

However, the volume of transactions recorded yesterday waned by 90.6 per cent due to the 50,750 units of securities traded by investors, in contrast to the 541,328 units of securities transacted in the preceding session.

Also, the value of shares exchanged by the market participants during the trading day plunged by 90.4 per cent to 7.8 million from N81.3 million recorded in the previous session.

But the total number of deals completed at the bourse on Thursday improved by 77.8 per cent to 32 deals, in contrast to the 18 deals carried out a day earlier.

When the market closed for the day, VFD Group Plc was the most traded stock by volume on a year-to-date basis as it has sold 349,456 units valued at N85.3 million, trailed by FrieslandCampina Wamco Nigeria Plc for trading 286,170 units worth N19.3 billion, and UBN Property Plc for exchanging 100,000 units valued at N81,000.

Also, the most traded stock by value on a year-to-date basis was VFD Group Plc for transacting 349,456 units valued at N85.3 million, followed by FrieslandCampina Wamco Nigeria Plc with a turnover of 286,170 units worth N19.3 billion, and 11 Plc with a turnover of 5,046 units valued at N777,084.00.

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