Four Companies Expand NASD OTC Exchange by 1.04% in Week 24

June 19, 2023

in Economy

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By Adedapo Adesanya

4 corporations spurred the NASD Over-the-Counter (OTC) Securities Alternate into optimistic territory within the twenty fourth week of buying and selling in 2023.

11 Plc, Central Securities Clearing System (CSCS) Plc, Geo-Fluids Plc, and Industrial and Basic Insurance coverage (IGI) Plc elevated the worth of the NASD OTX change by 1.04 per cent within the four-day buying and selling week.

Consequently, traders’ portfolios rose N10 billion to maneuver the market capitalisation of the bourse to N1.024 trillion from the N1.014 billion it closed within the previous week, amid recent confidence within the nation’s capital market following current market-welcoming insurance policies, together with the floating of the native foreign money on the overseas change market.

In the identical vein, the NASD Unlisted Securities Index (NSI) elevated within the week by 7.6 factors to settle at 740.74 factors in contrast with 733. factors recorded within the earlier week.

11 Plc gained 9.6 per cent final to complete at N144.00 per share from N131.34 per share, CSCS Plc appreciated by 9.0 per cent to N15.70 per share from N14.40 per share, Geo-Fluids Plc improved by 8.3 per cent to N3.00 per unit from N2.77 per unit, whereas IGI Plc appreciated by 14.3 per cent to eight Kobo per unit from 7 Kobo per unit.

Nonetheless, Niger Delta Exploration and Manufacturing (NDEP) Plc misplaced 3.5 per cent to settle at N250.83 per share versus the previous week’s N260.00 per share.

Within the week, the worth of transactions went down by 64.1 per cent to N80.2 million from N223.1 million, the quantity of trades shrank by 51.2 per cent to 13.5 million items from 27.6 million items, whereas the variety of offers decreased by 5.8 per cent to 114 trades from 121 trades.

On the shut of the week, Geo-Fluids Plc was probably the most traded inventory by quantity with 5.43 million items, Purple Property Plc traded 5.03 million items, IGI Plc exchanged 1.76 million items, Acorn Petroleum Plc transacted 830,000 items, whereas FrieslandCampina Wamco Nigeria Plc traded 140,000 items.

By worth, Purple Property Plc topped with N26.1 million, Geo-Fluids Plc adopted with N16.3 million, NDEP Plc posted N11.3 million, Friesland Campina Wamco Plc recorded N9.5 million whereas 11 Plc raked in N7.2 million.

Within the 12 months thus far, traders have traded a complete of 1.74 billion items of securities price N5.84 billion in 1,562 offers.