Home Business Policies Three Securities Trigger 2.3% Growth on NASD Trading Platform

Three Securities Trigger 2.3% Growth on NASD Trading Platform

by Radarr Africa
Three Securities Trigger 2.3% Growth on NASD Trading Platform

The NASD Over-the-Counter (OTC) Securities Exchange opened the new week on a positive note after it recorded a 2.25 per cent growth, triggered by three securities.

Central Securities Clearing Systems (CSCS) Plc, Niger Delta Exploration and Production (NDEP) Plc, and UBN Property Plc were the three stocks responsible for the growth witnessed yesterday at the NASD trading platform.

NDEP Plc was the day’s highest gainer as it gained N19.50 or 8.9 per cent to close at N300 per share compared with the previous N280.50 per share.

On its part, CSCS Plc appreciated by N1.65 or 6.5 per cent to sell for N18.64 per unit in contrast to the previous N16.99 per unit, while UBN Property Plc gained 2 kobo or 1.7 per cent to close at N1.20 per unit versus the previous N1.18 per unit.

The gains printed by the three shares overpowered the 31 kobo or 1.8 per cent loss posted by the Nigeria Exchange (NGX) Group Plc, which finished at N17.75 per share in contrast to the previous N18.06 per share.

At the close of transactions, the NASD Unlisted Security Index (NSI) increased by 16.74 points to 761.13 points from 744.39 points, while the market capitalisation rose by N11.9 billion to N541.02 billion from N529.12 billion.

On the activity chart, there was an 83.3 per cent increase in the volume of shares transacted by investors yesterday to 2.5 million units from the 1.5 million units reported last Friday.

Also, the value of securities exchanged by market participants rose by 286.3 per cent to N96.9 million from the preceding session’s N25.1 million.

In the same vein, the number of deals executed by investors appreciated by 69.6 per cent to 41 deals from 23 deals of the previous trading day.

These deals were carried on six firms with the NGX Group accounting for 28 deals, FrieslandCampina WAMCO Nigeria Plc accounting for 4 deals, NDEP Plc recorded 3 deals. CSCS Plc recorded 2 deals, while 11 Plc and UBN Property Plc recorded one deal each.

Geo Fluids Plc remained as the most traded stock by volume (year-to-date) for trading 1.0 billion units of its shares for N700.1 million. NGX Group trailed with 318.6 million units valued at N7.0 billion, while Swap Technologies & Telecomms Plc has exchanged 46.6 million units for N41.0 million.

However, the most traded stock by value (year-to-date) remained NGX Group with 316.6 million units worth N7.0 billion, followed by NDEP Plc with 3.2 million units worth N969.3 million, while Friesland has transacted 7.1 million units for N893.1 million.

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