NASD OTC Exchange Depreciates by 1.87% Monday

By Adedapo Adesanya

The first trading day of the week at the NASD Over-the-Counter (OTC) Market closed bearish on Monday, September 16, 2019 with both the NASD Unlisted Security Index (NSI) and the Market Capitalisation dropping points.

At the session, the market capitalisation dropped 1.87 percent or 9.6 billion to settle at N505 billion compared with N514.61 billion it ended at the previous session.

Similarly, the NASD Unlisted Security Index (NSI) went down by 1.87 percent or 13.42 points to close at 702.91 points, lower than 716.33 points it finished last Friday.

However, the volume of transactions at the market ballooned on Monday by 6,029 percent or 700, 006 units after three consecutive drops last week to settle at 711,616 units from 11,610 units printed last session.

Also, the value of the traded securities rose by 644.64 percent or 7.76 million to N8.96 million on Monday in contrast to N1.2 million worth recorded last Friday.

According to data harvested from the NASD by Business Post, a total of nine deals were executed on Monday with six securities traded out of 39 securities admitted to trade in the NASD OTC Securities Exchange.

Food Concept Plc still regained the top of trades position by volume (year to date) 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.