NASD OTC Market Cap Rises By N1.32bn

The Unlisted Securities Exchange retained its bullish trend on Tuesday as its market capitalisation grew by N1.32 billion at the close of trading.

Gains in the stocks of the Niger Delta Exploration and Production (NDEP) Plc pushed the market up by 0.13%.

This increased the NASD Unlisted Securities Index (NSI) by 1.00 points during the session to 763.49 points as against the 762.49 points it recorded in the previous session.

The share price of NDEP Plc improved yesterday by N7.28 to close at N197.78 per unit against N190.50 per unit of the preceding day.

It was observed that the activity level was very low on Tuesday as traders only bought and sold 34,119 units of securities, 73.2 per cent lower than the 127,323 units of securities transacted by market participants previously.

Likewise, there was a 5.4 per cent slide in the value of shares traded yesterday to N5.6 million from the preceding day’s N5.9 million, while the number of deals decreased by 45.5 per cent to six deals from the previous session’s 11 deals.

When the market closed for the day, the most active stock by volume on a year-to-date basis was still AG Mortgage Bank Plc with the sale of 2.3 billion units valued at N1.2 billion. Central Securities Clearing System (CSCS) Plc stood in second place with 686.6 million units worth N14.2 billion, while Food Concepts Plc was in third place with 147.8 million units valued at N128.4 million.

Similarly, CSCS Plc maintained its spot as the most traded stock by value (year-to-date) with a turnover of 686.6 million units worth N14.2 billion, VFD Group Plc was in second place with 24.5 million units valued at N6.6 billion, while FrieslandCampina WAMCO Nigeria Plc was in third place for trading 14.1 million units valued at N1.7 billion.