Investors Trade N3.3m Stocks on NASD Exchange at Midweek Session
By Adedapo Adesanya
Trading activities on the floor of the NASD Over-the-Counter (OTC) Securities Exchange were dull on Wednesday, January 8, 2020 as investors stayed back from the market for reasons best known to them.
Business Post reports that the OTC market closed flat during the midweek session as the key barometers remained the same way they closed on Tuesday, with the market capitalisation at N501.49 billion and the NASD Unlisted Securities Index (NSI) at 698.04 points.
However, the volume and value of shares transacted at the session declined, with investors trading 10,200 stocks yesterday compared with the 75,000 stocks recorded the previous day. This indicated that the volume of shares exchanged by traders went down by 86.4 percent or 64,800 units.
Similarly, the value of shares transacted depreciated on Wednesday as securities worth N3.3 million worth exchanged hands in contrast to N16.8 million transacted the previous day, representing a decline of 80.3 percent or N13.5 million.
In the same vein, the total number of deals executed by investors at the NASD OTC Exchange went down by 60 percent as only two deals were executed at the session compared with five deals at the previous session.
The market further closed without recording any price gainer or loser yesterday.
At the close of business, ARM Life Plc was the most traded stock by volume (year-to-date) with 29 million units of its shares worth N18.3 million traded, while NIPCO Plc followed in second place with 80,150 units traded at N5.5 million.
Niger Delta Exploration and Production Plc (NDEP) had the third highest traded securities as the oil and gas investment company traded 75,000 units valued at N23.7 million followed by Friesland CampinaWamco Plc which traded 6,530 units at N783,600.