Adedapo Adesanya
By Adedapo Adesanya
On Tuesday, the NASD Over-the-Counter (OTC) Securities Exchange recorded no single transaction as investors stay away from the market.
At the previous session, the market burbled, giving investors the impression that it would be a good year after surviving the turbulent 2020.
At the first trading day of 2021, the exchange appreciated by 1.18 per cent but yesterday, market participants shunned the exchange. This is not the first time such was happening.
It could be deduced that the investing public could have stayed away from the market because the current prices of stocks on the exchange are quite high and there were no buyers for them at the moment.
At the close of business on Tuesday, the market capitalisation remained at N532.16 billion while the NASD Unlisted Securities Index (NSI) stood at 741.67 points.
Business Post had reported that Niger Delta Exploration and Production (NDEP) Plc and Central Securities Clearing Systems (CSCS) Plc were solely responsible for the gains printed on Monday.
While NDEP Plc gained N15 on Monday to close at N355 per unit, CSCS Plc rose by 70 kobo to end the session at N15.75 per share.
During the session, investors had traded 46,540 units of securities worth N4.3 million in two deals.
CSCS had ended the opening trading session of the year as the most traded stock by volume (year to date) with 35,890 units worth N565,268.
But in terms of the value of trades, NDEP Plc took the top position with 10,650 units worth N3.8 billion and was followed by CSCS Plc, which traded 35,890 units of its stocks valued at N565,268.
