NASD Exchange Records Third Consecutive Stalemate

By Adedapo Adesanya

For the third consecutive session this week, the NASD Over-the-Counter (OTC) Securities Exchange closed in the flat territory on Thursday, May 7.

At the close of transactions yesterday, the main performance barometers remained at their previous levels just as prices of securities at the market retained their previous rates.

The last movement in the key market indicators was last seen on Monday, when the market capitalisation and the NASD Unlisted Security Index (NSI) both depreciated by 0.05 percent to close at N514.46 billion and 700.35 points respectively.

After the close of business on Thursday, the total market value and the index still remained at the same levels despite movements on the activity chart.

At yesterday’s session, market participants executed nine deals at the exchange, higher than the single deal recorded at the previous trading day by eight deals or 800 percent.

An analysis of the deals carried out at the market showed that the hardliner, FrieslandCampina WAMCO Nigeria Plc, accounted for eight deals, while an oil investment company, Nipco Plc, executed the remaining single deal.

Both companies combined to record the 23,600 units of shares traded at the bourse yesterday, 88 percent lower than the 190,000 units of securities transacted on Wednesday.

In the same vein, the total value of the transactions reduced by 22 percent to N1.94 million from the N2.47 million of the previous day.

A breakdown of the value of the trades indicated that FrieslandCampina WAMCO Nigeria Plc accounted for N976,000, while Nipco Plc contributed N960,000.

Insurance company, ARM Life Plc, maintained its positive as the most traded equity at the NASD Exchange by volume (year-to-date) with 7.4 billion units of its shares sold for N4.6 billion. It was followed by Food Concept Plc, which has traded 110 million units worth N77 million, and Lighthouse Financial Services Plc, which has transacted 48 million units of its shares valued at N24 million.

In terms of the most active stock by value (year-to-date), ARM Life Plc also remained on top of the chart for trading 7.4 billion units of its shares worth N4.7 billion. It was trailed by Niger Delta Exploration and Production (NDEP) Plc, which has transacted 6.8 million units worth N2.1 billion, and FrieslandCampina WAMCO Nigeria Plc, which has exchanged 2.4 million units of its securities for N290.2 million.