Unlisted Securities Market Closes Flat Tuesday

By Adedapo Adesanya

Transactions at the NASD Over-the-Counter (OTC) Securities Exchange closed flat with no price advancer or decliner on Tuesday, May 5.

At the session, the NASD Unlisted Security Index (NSI) remained static at 700.35 points, while the market capitalisation remained rooted at N514.46 billion.

Though the key market performance indicators recorded no movement yesterday despite the gradual ease of movement in Abuja, Lagos and Ogun States after five weeks, the activity level of the market moved in different directions.

For instance, the the volume of stocks transacted by investors moved northward, while the value and number of deals executed by market participants moved southwards.

At the exchange on Tuesday, a total of 6,000 shares exchanged hands during the session, higher than the 2,750 securities transacted at the market on Monday. This indicated a 118.2 percent increase in the trading volume.

In addition, transactions worth N78,000 were carried out yesterday at the unlisted securities market in contrast to the N322,000 worth of shares traded on Monday, representing a decline by 76 percent.

Furthermore, the number of deals executed by investors reduced by 67 percent to a single deal from the three deals of the previous day.

This deal was carried out by Central Securities Clearing Systems (CSCS) Plc, according to data sourced by Business Post from the exchange.

ARM Life Plc, at the close of business on Tuesday, remained as the most active stock by volume (year-to-date) with 7.4 billion units of its shares traded for N4.6 billion. Food Concept Plc was in second place with 110 million units traded at N77 million, while Lighthouse Financial Services Plc has traded 48 million units valued at N24 million.

In terms of the most traded equity by value (year-to-date), ARM Life Plc still maintained the top position for trading 7.4 billion units worth N4.6 billion. Niger Delta Exploration and Production Plc trailed with 6.8 million units transacted for N2.1 billion, while Friesland Campina WAMCO Nigeria Plc traded 2.4 million units worth N289.3 million.