The bulls rule over the bears on the NASD OTC from price appreciation in NDEP, Wamco

Charles Abuede

The bullish momentum resurfaced on the NASD OTC Securities Exchange as price uptick in Niger Delta Exploration Company and Friesland Wamco Plc drove the market capitalisation northward by 0.51 per cent to N546.7 billion while the NASD share index inched to 769.12 basis points to give market investors N2.8 billion in profits.

The level of trading activities in the NASD over-the-counter market was bearish on Wednesday as the total value of traded stocks dipped 22 per cent into the red zone to N99.44 million from 35 deals while the total traded volume declined 43.7 per cent to 1.6 million on the back of a 5.2 per cent price decline in the Nigerian Exchange Group to N21.31 from N22.47 as of the previous day.

Toping the gainers’ chart was the Niger Delta Exploration Company and Friesland Wamco Plc with a price increase of 8 per cent and 1.4 per cent to N310 and N130.37 respectively while the Nigerian Exchange Group was the lone decliner with a 1.2 per cent fall in its price to N21.3.

Meanwhile, the Central Securities Clearing System (CSCS) led the chart as the most traded stock by volume of 0.95 million while the Niger Delta Exploration Company and Friesland Wamco Plc were the most traded stocks by value on the exchange on Wednesday with a traded value of N46.5 million and N30.7 million respectively.