Adedapo Adesanya
By Adedapo Adesanya
The total value of unlisted stocks in Nigeria rose by N2.7 billion on Wednesday to N636.66 billion from N633.96 billion it closed on Tuesday, Business Post reports.
The increase at the midweek trading session was buoyed by the gains posted by three securities admitted on the NASD Over-the-Counter (OTC) Securities Exchange. They lifted the exchange higher by 0.43 per cent during the session.
As a result, the NASD Unlisted Security Index (NSI) went up by 3.11 basis points to 732.49 basis points from the 729.38 basis points recorded at the previous session.
Three companies that gained yesterday were Nigerian Exchange (NGX) Group Plc, NASD Plc, and Central Securities Clearing Systems (CSCS) Plc.
NGX Group Plc appreciated by 82 kobo or 5.6 per cent to close at N14.68 per unit as against the previous N13.86 per unit, NASD Plc rose by 21 kobo or 1.8 per cent to N11.81 per unit from N11.60 per unit, while CSCS Plc improved by 20 kobo or 1.2 per cent to N16.50 per share from N16.30 per share.
Business Post reports that there were no price losers at the exchange on Wednesday.
However, the volume of shares transacted by investors went down by 43.8 per cent to 3.0 million units from 5.4 million units, the value increased by 89.4 per cent to N48.9 million from N25.8 million, while the number of deals reduced by 2.7 per cent to 36 deals from 37 deals.
Food Concepts Plc maintained its position as the most traded stock by volume at the close of business on a year-to-date basis with 11.4 billion units sold for N14.4 billion. Geo Fluids Plc has traded 1.0 billion units valued at N700.1 million, while NGX Group Plc has transacted 456.3 million units worth N9.2 billion.
In terms of the most traded stock by value (year-to-date), Food Concepts Plc also topped the log with the sale of 11.4 billion units of its securities worth N14.4 billion. NGX Group Plc which followed has exchanged 456.3 million units for N9.2 billion, while VFD Group Plc with 10.4 million units valued at N3.5 billion sat third place on the log.
