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11, Newrest ASL Extend Bulls Presence at NASD

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By Adedapo Adesanya

Transactions on the floor of the NASD Over-the-Counter (OTC) Securities Exchange further closed bullish on Tuesday, thanks to the growth recorded by two securities.

The extension of the stay of the bulls at the unlisted securities market yesterday was influenced by 11 Plc and Newrest ASL Nigeria Plc. They improved the market by 0.12 per cent at the close of business.

11 Plc, formerly known as Mobil Oil Nigeria, had delisted from the Nigerian Exchange (NGX) Limited earlier this year and joined the alternative bourse last month. Yesterday, its equity price appreciated by N15 or 6.5 per cent to close at N230 per unit compared to N215 per unit of the previous closing rate.

Newrest ASL Nigeria Plc, which joined the market in June last year, recorded a N1 or 9.9 per cent growth to close the day at N11 per share versus the previous day’s N10 per share.

The performance of 11 Plc and Newrest ASL Nigeria during the session expanded the market capitalisation of the bourse by N630 million to N541.65 billion from N541.02 billion.

Also, this pushed the NASD Unlisted Security Index (NSI) higher by 0.89 points to 762.02 points from 761.13 points it recorded at the previous session.

Despite the gains yesterday, the market recorded a price loser and this was the Nigerian Exchange (NGX) Group Plc, which lost 3 kobo or 0.2 per cent to close the session at N17.72 per share in contrast to N17.75 per share of the prior session.

Business Post gathered that a total of 1.9 million units of shares were transacted at the NASD OTC market yesterday, 21.9 per cent lower than the 2.5 million units.

Likewise, there was a decline in the value of shares traded yesterday by 61.7 per cent as shares worth N37.1 million were transacted in contrast to N96.9 million made a day earlier.

In the same vein, the number of deals carried out during the session reduced by 41.0 per cent to 23 deals from 39 deals recorded on Monday.

Geo Fluids Plc remained as the most active stock by volume (year-to-date) with the sale of 1.0 billion stocks for N700.1 million. NGX Group occupied the second spot as it has traded 320.5 million valued at N7.0 billion, while Swap Technologies & Telecomms Plc held third place with 46.6 million units worth N41.0 million.

In terms of value, NGX Group was on top with 320.5 million units traded for N7.0 billion. Niger Delta Exploration and Production (NDEP) Plc remained in the second spot with 3.2 million units valued at N969.4 million, while FrieslandCampina WAMCO Nigeria has exchanged 7.2 million units valued at N893.1 million.

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