Investors Shun NASD Exchange on Friday

July 25, 2020
Stock Investors

By Adedapo Adesanya

Investors appeared to have shunned trading of securities at the NASD Over-the-Counter (OTC) Securities Exchange on Friday, July 24, 2020.

The last time this happened was on Tuesday, June 2 when investors played safe for the fourth time this year alone due to the current COVID-19 pandemic crisis which ravaged markets globally.

Business Post made efforts to get in touch with the exchange concerning the latest development but they were futile.

However, the NASD OTC Security Index (NSI) and market capitalisation remained at 706.52 points and N518.99 billion respectively.

According to data made available at the NASD trading platform, there were no changes to the market indicators at the bourse yesterday, as it still retained quotes from Thursday, July 23.

Current standings showed that insurance firm ARM Life Plc remained as the most traded stock by volume (year-to-date) with 7.4 billion units of its shares traded for N4.6 billion traded. Central Securities Clearing Systems (CSCS) Plc was in second place with 198.1 million units traded for N2.6 billion, while Food Concept Plc followed in third place with 125 million units traded at N88 million.

In terms of the most traded equity by value (year-to-date), ARM Life Plc still retained the top spot with 7.4 billion units of its securities transacted for N4.6 billion. CSCS Plc trailed with 195.6 million units valued at N2.6 billion, while Niger Delta Exploration and Production (NDEP) Plc followed in the third spot with 8.4 million units worth N2.6 billion.

In April, the market recorded no single transaction three times. The first occurrence was on Wednesday, April 1, a day after the federal government imposed lockdown in Lagos, Ogun, and the Federal Capital Territory (FCT). Other times were on Tuesday, April 21 and Monday, April 27.

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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