The bulls surface on the NASD OTC Exchange as investors scoop N5.6bn profit

Charles Abuede

The NASD Securities Exchange equities market rebound into bullishness on Wednesday from Tuesday’s bearish performance as price appreciations in the Nigerian Exchange Group (NGX) and the Central Securities Clearing System (CSCS) spurred a 1.03 per cent advancement in the market capitalization to N542.95 billion and the NASD all-share index improved to 763.84 points. As a result, market investors in the NASD Exchange equities market gained N5.6 billion from profit taking activities from 42 deals on Wednesday.

Similarly, the market performance was strong as the total volume and value of traded equities advanced by 4.04 per cent and 9.31 per cent to 3.7 million and N78.43 million respectively from 3.53 million and N71.76 million as of the previous day. Consequently the top traded stocks on the exchange on Wednesday were led by NGX Group (212.7m), SWAP Plc (46.6m), CSCS Plc (27.3m), UBN Properties (21.9m) and Friesland Wamco (4.4m) in total volume while NGX Group (N4.88bn), Niger Delta Exploration Plc (N764m), Friesland Wamco (N558.7m), CSCS Plc (N420.2m), VFD Group (N219.6m) led the trading chart by value.

On the gainers’ table were Central Securities Clearing System (CSCS) Plc and the Nigerian Exchange Group (NGX) on the back of buying interest in the stocks which appreciated by 6.53 per cent and 4.24 per cent to close at N17 and N21.22 respectively with no decliner.