Investors Trade N2.4m Securities at NASD Market Friday

NASD OTC market

By Adedapo Adesanya

Trading closed on the floor of the NASD Unlisted Securities Exchange on Friday, August 7 with N2.4 million worth of securities exchanged.

This indicated a 104.3 per cent day-to-day rise in the trading value when compared with the previous day’s N1.2 million.

However, this did not help to lift the market, which closed in the flat territory yesterday at the close of business yesterday for the first time in five days.

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

There were seven deals executed on Friday compared to six deals published at the last session. These were made on four securities; FrieslandCampina WAMCO Nigeria Plc (three deals), Central Securities and Clearing Systems (two deals), Niger Delta Exploration and Production (NDEP) Plc (one deal) and Trust Mortgage Bank (one deal).

These deals led to a 643.2 per cent rise in the volume of stocks exchanged on Friday as a total of 126,182 units of securities were transacted by market participants compared to Thursday’s 16,978 units.

The market, however, saw no price gainer or loser, meaning all 41 trading securities retained their previous quoted prices.

At the close of transactions, ARM Life Plc remained 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 transacted for N88.1 million.

ARM Life Plc also finished the session as the firm with the highest value of stocks traded by investors so far this year with 7.4 billion units of securities traded for N4.6 billion, while CSCS Plc followed with 199.9 million units exchanged for N2.7 billion, with NDEP Plc occupying the third place with 8.5 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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