By Adedapo Adesanya
The volume of stocks traded at the NASD Over-the-Counter (OTC) Securities Exchange increased on Wednesday, May 6, 2020.
A total of 190,000 units of shares were transacted at the midweek session in contrast to the 6,000 securities bought at the previous session. This indicated a 3,067 percent increase in the trading volume.
In the same vein, the value of the transactions increased by 3,067 percent increase to N2.5 million compared with the N78,000 worth of securities transacted at the previous session by market participants.
However, the number of deals transacted by investors at the unlisted securities market yesterday was flat as only a single deal was executed during the session like in the previous session.
This trade was carried out by the country’s securities depository company, Central Securities Clearing Systems (CSCS) Plc.
Despite the movement in the level of activity, the NASD OTC Exchange’s key market indicators closed flat at the midweek trading session.
At the close of transactions, the market capitalisation remained flat at N514.46 billion, while the NASD Unlisted Security Index (NSI) stayed at 700.35 points.
Also, the market wrapped the day with no changes to the share prices of all the 39 securities trading at the bourse.
ARM Life Plc closed the session as the company with the most traded shares (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 worth N77 million, while Lighthouse Financial Services Plc held the third position with 48 million units of its shares transacted for N24 million.
As the most traded equity by value (year-to-date), ARM Life Plc still remained top on the table for trading 7.4 billion units of its shares worth N4.6 billion. Niger Delta Exploration and Production (NDEP) Plc followed with 6.8 million units exchanged for N2.1 billion, while CSCS Plc returned to the third place with 24.4 million units of its securities traded for N290 million.
