By Adedapo Adesanya
Securities amounting to N35.2 million were transacted on Thursday, April 16, at the NASD Over the Counter (OTC) Securities Exchange.
This was 6,042 percent or N34.7 million higher than the N572,400 worth of stocks transacted at the unlisted securities market on Wednesday.
However, the significant increase in the value of transactions on Thursday could not impact on the overall market performance as key indicators closed flat at the close of business.
During the trading day, the NASD Unlisted Security Index (NSI) remained static at 698.22 points, while the market capitalisation remained unchanged at N512.89 billion.
But there was an upward movement in the trading volume by 140,953 percent. By the time market activities were wrapped up yesterday, a total of 3.0 million unit of shares were transacted by investors at the bourse compared with the previous day’s 2,120 units.
Unlike in the previous session, there an increase in the total deals executed by market participants on Thursday at the exchange.
Data from the NASD OTC market showed that five deals were executed yesterday and they were from the Central Securities Clearing Systems (CSCS) Plc (three deals), Lighthouse Financial Services Plc and Friesland Campina WAMCO Plc (one deal each).
It was observed that the number of deals carried out at the market on Thursday were 400 percent or three deals higher than Wednesday, which was one.
Business Post reports that the three deals executed by CSCS were worth N35.0 million, while the single deal of Lighthouse Financial Services was valued at N150,000, with the deal done by Friesland worth N39,600.
Despite the rise in the activity level, the market ended the session with no single price gainer or loser as prices of stocks at the market retained their previous rates.
At the close of business, ARM Life Plc remained the most traded stock by volume (year-to-date) with 7.4 billion units worth N4.6 billion, while Food Concept Plc trailed for trading 110 million units valued at N77 million, with Lighthouse Financial Services Plc transacting 48 million units of its stocks for N24 million.
In terms of being the most traded stock by value (year-to-date), ARM Life Plc still held its top position for trading 7.4 billion units worth N4.6 billion. Niger Delta Exploration and Production (NDEP) Plc occupied the second place for exchanging 6.5 million units of its stocks valued at N2.03 billion, while CSCS Plc has sold 24 million units worth N285.1 million.
