NASD Exchange Closes Bearish as CSCS Shares Drop 5 Kobo

By Adedapo Adesanya

Transactions on the trading floor of the NASD Over the Counter (OTC) Securities Exchange closed in the negative territory on Wednesday, November 20, 2019, Business Post reports.

At the close of business in the midweek session, both the NASD Security Index (NSI) and market capitalization, which are the two key barometers of the market, pointed south.

An analysis of the day’s trading session showed that the NSI depreciated by 0.5 percent or 0.35 points to close at 712.77 points in contrast to 713.12 points it quoted on Tuesday.

In the same vein, the market capitalization closed Wednesday’s trading session at N512.08 billion, lower than N512.33 billion it recorded at the previous session, representing a decline of 0.5 percent or N250 million.

The activity level was mixed yesterday, with the volume of shares transacted by investors rising, but the value and number of deals executed by them declining at the close of business.

A total of 523,613 shares worth N45.0 million were traded at the NASD Exchange on Wednesday in eight deals. This is in contrast to the 347,520 units of shares worth N48.9 million transacted in 17 deals on Tuesday.

From the above analysis, the trading volume increased yesterday by 50.7 percent or 138,840 units, while the value of the transactions went down by 8.1 percent or N3.9 million, with the number of deals declining by 52.94 percent or nine deals.

On the price movement chart, there was only a price loser and no price gainer. The lone price loser, Central Securities Clearing System (CSCS) Plc, had its share price depreciating by 5 Kobo or 0.42 percent to close at 11.95 Kobo per share, lower than N12 per share it ended the previous day.

Notwithstanding, the securities depository company retained its top position as the most traded stock by value (year-to-date) with 202,272,698 units worth N2.53 billion, while UBN Properties stayed in the second position with 884,529,600 units of its stocks sold for N1.2 billion

In terms of volume traded, Food Concept Plc remained number one with a total of 1,158,828,284 units sold for N844 billion, while UBN Properties followed with 921,841,397 units worth N1.24 billion.