Adedapo Adesanya
By Adedapo Adesanya
The bullish run at the NASD Over the Counter (OTC) Securities Exchange was extended to the second day on Wednesday by the 0.65 per cent growth buoyed by VFD Group Plc and Central Securities Clearing Systems (CSCS) Plc.
During the session, VFD Group stocks gained N12.50 or 9.8 per cent to close at N139.50 per unit compared to the previous closing price of N127 per unit, while CSCS shares appreciated by 45 kobo or 3.0 per cent to close at N15.28 per share in contrast to N14.83 per share of the preceding day.
The gains recorded by these two securities is spurred the market capitalisation of the exchange to appreciate by N3.31 billion to N516.15 billion from N512.84 billion it closed on Tuesday.
Also, the NASD Unlisted Security Index (NSI) gained 4.66 points to settle at 726.14 points as against 721.48 points it finished at the previous session.
There was, however, a drop in the total volume of shares transacted at the midweek session by 48.5 per cent to 344,400 units from 669,100 units recorded a day earlier.
The value of securities transacted by market participant also declined yesterday by 19.0 per cent as shares worth N18.1 million were carried out in contrast to N22.3 million worth of shares reported on Tuesday.
Furthermore, the total number of deals executed during the session went south by 50 per cent as only eight deals were completed compared with 16 deals achieved at the previous session.
CSCS Plc accounted for six deals, while VFD Group Plc and Niger Delta Exploration and Production (NDEP) Plc accounted for one deal each.
UBN Property Plc maintained its position as the most active stock (year-to-date) with 21.9 million units valued at N24.6 billion, while CSCS Plc was in second place with 7.9 million units worth N121.2 million, with FrieslandCampina WAMCO Nigeria occupying the third spot for trading 2.9 million units worth N363.6 million.
By value (year-to-date), Friesland was the most traded stock with the sale of 2.9 million units valued at N363.6 million. NDEP Plc has trailed 698,587 units of its securities valued at N222.8 million, while CSCS Plc has traded 7.9 million units worth N121.2 million.
