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NASD Sustains Growth by 0.41% at Midweek

Stocks admitted on the NASD Over-the-Counter (OTC) Securities Exchange maintained their winning streak on Wednesday, January 4, with a further 0.41 per cent growth.

This was influenced by Central Securities Clearing System (CSCS) Plc, which offset the poor performance of FrieslandCampina Wamco Nigeria Plc.

Business Post reports that CSCS Plc gained N1.04 during the session to settle at N13.50 per share compared with the previous day’s N12.46 per share, while FrieslandCampina lost N2.88 to close at N67.12 per unit versus Tuesday’s value of N70.00 per unit.

At the close of business, the market capitalization of the alternative bourse in Nigeria went up by N3.8 billion to N937.26 billion from the N933.46 billion it closed in the preceding session.

Also, the NASD Unlisted Securities Index (NSI), which measures the performance of the lesser exchange, improved by 2.89 points to wrap the session at 713.28 points compared with 710.39 points of the previous day.

Investors were upbeat at the market yesterday as they found a reason to acquire more unlisted securities, pushing the activity chart into the green territory.

The volume of securities bought and sold during the session increased by 180.4 per cent to 541,378 units from 193,093 units, the value of shares rose by 381.5 per cent to N81.3 million from N16.9 million, and the number of trades grew by 5.9 per cent to 18 deals from the 17 deals completed a day earlier.

The most traded stock by volume on a year-to-date basis was VFD Group Plc with the sale of 321,891 units valued at N78.5 million, trailed by FrieslandCampina Wamco Nigeria Plc with 274,277 units valued at N18.5 million, and UBN Property Plc with a turnover of 100,000 units worth N81,000.

Also, VFD Group Plc was the most active stock by value (year-to-date) as it closed with a turnover of 321,891 securities worth N78.5 million, followed by FrieslandCampina Wamco Nigeria Plc Plc with 274,277 units valued at N18.5 million, and 11 Plc with 4,754 units worth N732,116.

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