NASD OTC Market Closes Flat Tuesday as NIPCO Gains N3

September 18, 2019
nipco-mobil

By Adedapo Adesanya

After a negative result across key indicators on Monday, the NASD Over the Counter Market on Tuesday closed flat as both the market capitalization and NASD Unlisted Security Index remained the same.

The market capitalization of the unlisted securities closed at N505 billion on Tuesday, the same amount it was Monday, while the NASD Unlisted Security Index (NSI) also remained unchanged yesterday at 702.91 points.

However, the volume of the transactions recorded on Tuesday went down by 90.43 percent or 643,287 units to 68,329 units from 711,616 units recorded in the previous session.

In the same vein, the value of the traded securities went down by 48.32 percent or N4.36 million to settle at N4.6 million yesterday from N8.96 million recorded on Monday.

According to data from the NASD, a total of 19 deals were executed, at the trading session indicating a 111.11 percent increase from the 9 deals executed in the previous closing segment.

Nipco Plc was the only listed gainers on Tuesday as its stock gained N3.00 to trade at N71 from N68. This came few days after the company announced that it would pay its shareholders dividends worth N3 from October 21, 2019.

Food Concept Plc on Tuesday 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, UBN Properties followed on the list with 884,529,600 units of its stocks sold for N1.2 billion.

Adedapo Adesanya

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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