NASD Exchange Closes Week in Stalemate

By Adedapo Adesanya

The last trading session of the week on the floor of the NASD Over-the-Counter (OTC) Securities Exchange closed in stalemate on Friday.

According to data obtained by Business Post, the NASD Exchange finished in the flat territory despite the Nigerian Exchange (NGX) Group recording a positive price movement.

Share of NGX Group appreciated by 2.8 per cent or 51 kobo yesterday to N18.06 per unit as against the previous N17.55 per unit.

However, this was not enough to sway the unlisted securities market to either upwards or downwards, with the NASD Unlisted Security Index (NSI) remained unchanged at 744.39 points, while the market capitalisation of the exchange remained static at the previous value of N529.12 billion.

At the close of transactions, investors traded a total of 1.4 million units of securities in contrast to the 1.5 million units of securities transacted at the previous session, indicating a drop of 5.6 per cent.

Equally, the value of shares exchanged by the market participants depreciated by 46.9 per cent as N25.1 million worth of equities was traded compare with the N47.3 million recorded at the previous session.

In the same pattern, the total number of deals executed went down by 43.9 per cent as 23 deals were performed at the exchange as against the 41 deals printed on Thursday.

It was observed that Geo Fluids Plc remained as the most active stock by volume (year-to-date) with 1.0 billion units of its shares transacted for N700.1 million. NGX Group maintained its second spot for trading 316.6 million units valued at N6.9 billion, while Swap Technologies & Telecomms Plc was in third place for transacting 46.6 million units valued at N41.0 million.

Conversely, NGX Group was the most active by value (year-to-date) for trading 316.6 million units worth N6.9 billion. Niger Delta Exploration and Production (NDEP) Plc remained in the second spot with 3.2 million units worth N966.9 million, while FrieslandCampina WAMCO Nigeria has traded 6.7 million units worth N834.9 million.