Investors Splash N4.89m on Shares at NASD Exchange Monday

NASD Exchange bullish

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange opened the week flat on Monday, August 10 as investors splashed N4.89 million on five different securities at the bourse.

This amount was 100.2 per cent higher than the N2.44 million worth of stocks transacted at the bourse at the previous session.

During Monday’s trading session, a total of 16 deals were executed on Monday compared to seven deals of the last session. These were made on shares of Niger Delta Exploration and Production (NDEP) Plc with eight deals followed by FrieslandCampina WAMCO Nigeria Plc and First Trust Mortgage Bank, with two deals each.

Others include Central Securities and Clearing Systems (CSCS) and Afriland Properties Plc which recorded one deal each.

There was also a 16.1 per cent rise in the volume of stocks exchanged at the first session of the week as a total of 146,490 units of securities were transacted compared to 126,182 units recorded at the previous session.

However, this did not help the market which closed in the flat territory at the close of business for the second consecutive session after closing in the same position last Friday.

The NASD Unlisted Securities Index (NSI) wrapped up at 706.07 points, while market capitalisation recorded no movement to end at N518.65 billion.

The market also saw no price advancer or decliner as all 41 admitted securities retained their previous quoted prices.

ARM Life Plc closed the session as the company with the highest volume of shares traded by investors (year-to-date) with 7.4 billion units of its shares worth N4.6 billion. CSCS Plc was in second place with 199.9 million units worth N2.7 billion, while Food Concept Plc held the third position with 125.1 million units of its shares worth N88.1 million.

Equally, ARM Life Plc remained as the company with the highest value of stocks transacted by market participants (year-to-date) with 7.4 billion units of securities valued at N4.6 billion, while CSCS Plc followed with 199.9 million units exchanged for N2.7 billion, with NDEP Plc in third place with 8.6 million units of its securities valued at N2.6 billion.

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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