NASD OTC Market Closes Flat Wednesday

By Adedapo Adesanya

The NASD OTC Market closed on Wednesday, September 11, 2019 with no movement in price from yesterday as the NASD Security Index (NSI) and market capitalisation closed at 719.35 points and N516.81 billion respectively.

However, the volume of the transactions recorded yesterday at the market went down by 72.8 percent or 353,720 units to 132,000 units from 485,720 units printed on Tuesday.

But this did not impede the value of the shares traded by investors, which appreciated by 493.89 percent to close at N38.94 million compared with the N6.6 million it finished in the previous trading window.

At Wednesday’s trading session,only three (3) deals were executed by traders at the market, indicating no modification to the number of deals executed on Tuesday.

Food Concept Plc still led the top trades by volume (year to date) as at Wednesday with transactions of 1,158,797,004 units valued at N843.97 billion, while UBN Properties followed with 891,085,220 units worth N1.21 billion.

In terms of value by year-to-date, Central Securities Clearing System (CSCS) Plc took the top spot with 202,272,698 units worth N2.53 billion transacted from the beginning of this year till yesterday, while UBN Properties followed with 884,529,600 units of its stocks sold for N1.2 billion.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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