NASD Exchange Closes Flat Thursday

NASD Exchange bullish

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange closed in the flat territory on Thursday, August 13.

According to data from the exchange, the NASD Unlisted Securities Index (NSI) remained at 713.39 points when activities were wrapped up yesterday, while the market capitalisation recorded no movement as it ended the day at N524.04 billion.

The unlisted securities market maintained stability yesterday despite a significant increase in the value of transactions made at the market.

Stocks worth N18.6 million were exchanged at the bourse, 100.2 per cent higher than the N9.3 million worth of securities traded on Wednesday.

This amount was spent on two companies which were both responsible for the six deals executed at the session.

Central Securities and Clearing Systems (CSCS) Plc had two deals from 385,429 units of its stocks, while VDF Group Plc recorded four deals from 129,246 units.

These deals increased the trading volume for the day by 481.7 per cent to 514,675 units from the previous day’s 88,485 units.

Unlike in the preceding trading session, the market recorded no price movement as all the 41 admitted securities retained their previous quoted prices.

ARM still maintained its position as the company with the highest volume of shares transacted at the market year-to-date, with 7.4 billion units worth N4.6 billion. CSCS Plc followed with 200.4 million units valued at N2.7 billion, while Food Concept Plc came in third with 125.1 million units of its shares raking in N88.1 million.

Equally, ARM Life Plc also remained as the most active stock by valued of trades (year-to-date) with N4.6 billion realised from 7.4 billion units of securities transacted by market participants. It was trailed by CSCS Plc, which has transacted N2.7 billion worth of its shares from 200.4 million units, and the Niger Delta Exploration and Production (NDEP) Plc, which has had N2.7 billion worth of its securities sold from 8.7 million units.

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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