NASD OTC Market Capitalisation Rises to N501.7bn Tuesday

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange closed on Tuesday, October 8, 2019 on a positive note as both the NASD Security Index (NSI) and market capitalisation returned to winning ways after going down on Monday.

However, despite these two key market indicators closing in the green territory, the other market parameters pointed south after the close of transactions at the OTC Exchange.

Business Post reports that the market capitalisation gained N210 million or 0.04 percent to close at N501.66 billion in contrast to N501.45 billion it ended on Monday.

Following the same trend wad the NASD Security Index (NSI), which also rose by 0.04 percent following a 0.29 points rise to 698.26 points yesterday from 697.97 points recorded at the previous session.

However, the volume of trades, which rose by 14,494 percent on Monday to 102,306 units, had a 94.9 percent drop on Tuesday as investors exchanged a total of 5,250 units of stocks. This showed that the number of shares traded in the day went down by 97,056 units.

In the same vein, the total value of transactions which also recorded a rise on Monday by 76,415 percent to N19.1 million, dropped by 96.6 percent on Tuesday N647,571. The total value of the trades recorded yesterday depreciated by N18.5 million.

Also, total number of deals executed fell in comparison with the previous session from 13 to 4 deals.

Meanwhile, Food Concept Plc remained at the top of trades by volume (year to date) chart 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.

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

It was good news for shareholders for Friesland Campina Wamco Plc, as the company’s share price gained 21 Kobo as it went from N128.79 to close at N129.00 on Tuesday.