NASD Exchange Closes Flat as Activity Level Rises Tuesday

Nigeria's Unlisted Securities Market Sheds 0.78%, NASD Shares up 8.31%
Picture Credit: NASD Twitter

By Adedapo Adesanya

NASD Over the Counter (OTC) Securities Exchange closed on Tuesday, October 15, 2019 with both the NASD Security Index (NSI) and market capitalization remaining flat.

This means that market capitalization saw no movement as it remained unchanged N512.37 billion on Tuesday from what was recorded last Friday and after Monday’s transactions. Also, the NASD Security Index (NSI) remained flat as it neither appreciated nor depreciated from percentage points that was previously quoted at 713.17 points.

Notwithstanding this, the activity level, which measures the total volume and value of trades alongside number of deals executed rose at the second day of the week trading session.

Business Post reports that the total volume of shares transacted rose by 1,915 percent or 162, 990 units from 8,510 units transacted on Monday to 171,500 units at Tuesday’s session.

Also, the total value of trades transacted rose, this time by 2,951 percent to N35.02 million from N1.15 million recorded on Monday, showing a difference of 33.87 million.

Similarly, the total number of deals executed by investors at the market significantly increased by 400 percent or eight to 10 deals on Tuesday from two deals on Monday.

There were no price gainers or losers at yesterday’s trading session.

Central Securities Clearing System (CSCS) Plc still retained top position in terms of value by year-to-date with 202,272,698 units worth N2.53 billion transacted from the beginning of this year till date, with UBN Properties following on the list with 884,529,600 units of its stocks sold for N1.2 billion.

While Food Concept Plc retained the top spot on the top trades position by volume (year to date) with a total transaction of 1,158,797,004 units valued at N843.97 billion, while UBN Properties followed with 891,085,220 units worth N1.21 billion.

As investors prepare for the mid-week’s trading session, they would be expecting things to change for the better at the trading platform for unlisted securities in Nigeria.

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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