Unlisted securities market yields N6.2bn gains

Unlisted securities market yields N6.2bn gains

Unlisted securities market yields N6.2bn gains


 

 

The NASD Over-the-Counter (OTC) Securities Exchange closed the week with a positive return on the NASD Share Index which rose by 1.16 percent week on week to close at 754.81 points against 746.12.

In addition, at the close of the week, NASD investors recorded gains of N6.17 billion in value as the market capitalization closed at N536.52 billion compared to N530.35 billion on the previous week’s close resulting from a positive movement in prices.

Similarly, the level of trading in the market was bullish as there was a 14.87 per cent increase in the total value traded during the week to N276.2 million compared to N240.44 million in the previous week.

Also, the total volume traded during the week trended in the green by 23.72 per cent to 14.6 million units compared to 11.8 million units in the previous week.

The week closed with Nigerian Exchange Group PLC ranking top among the five most traded securities by volume and UBN Property PLC as the fifth most traded stock by volume traded in the week.

At the close of the trading week, the Nigerian Exchange Group led the chart of the top traded security by value among the five most traded securities with N259.4 million, followed by Friesland Wamco (N13.35 million), Central Security Clearing System (N3.1 million), VFD Group (N197.8 million) and Niger Delta Exploration & Production with N178.17 million stood as the fifth most traded security by value for the week.

On the other chart for the most traded securities by volume for the week, the Nigerian Exchange Group topped the chart with 14.23 million units. Trailing was VFD Group with 1.98 million units, followed by the Central Security Clearing System with 170.6 million units while Friesland Wamco traded 111.24 million units during the week, and UBN Property stood as the fifth most traded stock by volume traded in the week with 100 million units.

On the gainers’ chart for the week, FrieslandCampina Wamco Nigeria closed the week at N120 representing a 3.29 per cent increase from the previous close of N116.17.

Also, Central Securities and Clearing System closed the week at N18.50 representing a 2.83 percent increase from the previous close of N17.99, while UBN Properties closed the week at N1.18 representing 0.85 percent increase from the previous close of N1.17.

Meanwhile, the Nigerian Exchange Group closed the week as the lone decliner at N17.92 representing a 7.05 percent decrease from the previous close of N19.28.

Elsewhere in the news from the NASD OTC Exchange, Bola Ajomale, the Managing Director, NASD OTC Securities market has hinted at the plans of the equities market to begin dealings on digital currency in 2021 in a bid to fill a gap in the digital currency space.

According to Ajomale, “Referencing our mission to enable economic development in Africa through consistent innovation, the OTC market intends to fill a gap in the digital currency space.

“It should be noted that we do not intend to deal with cryptocurrencies as it is not appropriate, however, digital currencies offer a wider range of products/ services that is appropriate for the OTC market.”