Adedapo Adesanya
By Adedapo Adesanya
Stocks worth N3.8 million were transacted at the NASD Over-the-Counter (OTC) Securities Exchange on Wednesday.
This amount was 79.5 percent lower than the N18.8 million equities traded at the previous session by traders at the exchange.
During the midweek session, a total of 346,761 units of securities exchanged hands, 77 percent lesser than the 1.5 million units recorded at Tuesday’s session.
However, the number of deals executed yesterday remained flat at two and these were from Afriland Properties, which traded shares worth N93,522 and Central Securities Clearing Systems (CSCS) Plc, which transacted N3.75 million worth of its securities.
Business Post reports that the movement in the activity level did not get to the main market indices, which remained unchanged at the close of transactions yesterday.
After recording gains for two straight days, the market closed flat on Wednesday, with the NASD Unlisted Security Index (NSI) at 694.82 points and the market capitalisation at N510.39 billion.
Unlike the two previous session, where CSCS recorded improvement in its value, the market closed on Wednesday with no movement in prices of securities listed on the bourse.
ARM Life Plc maintained its position on the activity chart, closing the midweek session as the most traded stock by value (year-to-date). The company has traded 7.4 billion units of its shares worth N4.6 billion so far this year. Niger Delta Exploration and Production (NDEP) Plc, which is trailing, has transacted 6.5 million units valued at N2.03 billion, while FrieslandCampina WAMCO Plc has sold 2.2 million units worth N269.7 million.
In terms of volume of the trades (year-to-date), ARM Life Plc also remained at the top, with 7.4 billion units of its securities traded this for N4.6 billion. Food Concept closely followed with with 110 million units of its stocks transacted for N77 million, while Lighthouse Financial House Plc has exchanged 47.7 million units of its securities worth N23.8 million.
