Prices Remain Flat at NASD Exchange’s Midweek Sesstion

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

By Adedapo Adesanya

Prices of shares listed on the NASD Over-the-Counter (OTC) Securities Exchange closed on Wednesday the way they were on Tuesday despite the activity level printing movements.

Apart from the fact that the OTC market closed with no price gainer or loser, the major performance indicators also remained unchanged at the close of the midweek’s trading session. The market capitalisation ended at N504.84 billion, while the NASD Unlisted Securities Index (NSI) finished at 702.69 points.

However, the volume of shares transacted during the trading day rose by 1,174 percent or 259,590 units, while the value of the securities exchanged by investors increased by 974 percent or N34.9 million.

Business Post reports that a total of 281,690 units of stocks were traded yesterday compared with the the 22,100 stocks of the previous day, while transactions worth N38.5 million were achieved against N3.6 million posted on Tuesday.

But the total number of deals executed by investors at the NASD OTC Exchange went down on Wednesday by 67 percent as only two deals were executed at the session compared with six deals at the previous session.

Niger Delta Exploration and Production (NDEP) Plc was still the most active stock by value (year-to-date) on Wednesday at the market, trading 567,600 units of its shares worth N179 million, while Friesland took over the second position with 330,275 units transacted for N44.4 million, while ARM Life was in third place with 29,000,000 units traded at N18.3 million.

But by volume (year-to-date), ARM Life Plc kept its place as the most traded stock (year-to-date) with 29 million units of its shares worth N18.3 million exchanged at the market, while CSCS Plc came second place, with 816,975 units worth N9.4 million, with NDEP Plc coming third with 567,600 units traded at N179 million.

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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