VFD Extends Rally as NASD OTC Exchange Gains 0.13%

By Adedapo Adesanya

VFD Group Plc continuous rally ensured that the NASD Over-the-Counter (OTC) Securities Exchange remained in the bullish territory on Wednesday, April 7.

The proprietary investment company saw its shares add another 10 per cent or N24.72 to its previous closing price of N24.72 to close at N271.84 per unit.

It was, however, not the only gainer as the stock price of Niger Delta Exploration and Production (NDEP) Plc appreciated by N8.70 or 2.8 per cent yesterday to close at N323.70 per unit compared to the previous closing price of N315 per unit.

The gains recorded by the duo increased the market capitalisation of the unlisted securities market by 0.13 per cent or N670 million to end the day at N532.80 billion in contrast to Tuesday’s value of N532.13 billion.

Equally, the movement spurred the NASD Unlisted Security Index (NSI) to a 0.94 points rise to 749.57 points from 748.63 points recorded on Tuesday.

Business Post reports that the market recorded a price loser on Wednesday as the share price of Central Securities Clearing Systems (CSCS) Plc went down by 60 kobo or 3.8 per cent to N15.40 per share from N16 per share.

On the activity chart, there was an increase in the total volume of shares transacted at the session as it increased by 28.7 per cent to 109,420 units from 85,000 units of the previous trading session.

Also, the total value of traded securities rose by 92.6 per cent to N27.1 million from N14.1 million, while the number of deals grew by 133.3 per cent to seven deals from three deals of the prior day.

These deals were executed on four companies, with VFD Group Plc, CSC Plc and FrieslandCampina WAMCO Nigeria Plc accounting for two deals apiece, while NDEP Plc recorded a single deal.

At the close of business, UBN Property Plc was the most active stock by volume on a year to date basis with the sale of 21.9 million units valued at N24.6 billion. It was followed by CSCS Plc with 8.2 million units worth N126.9 million and Friesland with 3.5 million units worth N434.1 million.

However, NDEP Plc was the most traded stock by value (year-to-date) for transacting 2.2 million units valued at N687.7 million. Friesland trailed with 3.5 units of its securities valued at N434.1 million, while VFD Group Plc has traded 1.1 million units worth N181 million.