Adedapo Adesanya
By Adedapo Adesanya
The negative sentiment on the trading floor of the NASD Over-the-Counter (OTC) Securities Exchange was extended by another day, with the key market guages pointing south at the close of transactions on Thursday, November 21, 2019.
Business Post reports that it was the third consecutive day the market for unlisted securities in Nigeria was closing negative this week, with both the NASD Security Index (NSI) and market capitalization finishing in red.
An analysis of activities at the exchange yesterday showed that the market capitalization, which had closed Wednesday’s trading session at N512.08 billion, further shed 0.83 percent or N4.23 billion to settle at N507.85 billion on Thursday.
Following the same pattern yesterday, the NSI dropped 0.83 percent equivalent to 5.89 points to close at 706.88 points in contrast to 712.77 points it finished the previous session.
It was observed that the total volume of transactions during the day depreciated by 75.4 percent or 394,885 units to close at 128,728 units versus 523,613 units transacted on Wednesday.
In the same vein, the total value of shares transacted by investors on Thursday further dropped 83.9 percent or N37.8 million to N7.2 million from N45.0 million recorded the previous day.
The total number of deals executed by traders remained unchanged on Thursday as a total of 8 deals were recorded in the session.
On the price movement chart, share price of Niger Delta Exploration and Production Plc (NDEP) depreciated by N25 or 8.62 percent to N290 per share from N315 per share. The company was the only price loser at the market on Thursday.
On the gainers’ chart, shares of Central Securities Clearing System (CSCS) Plc upturned Wednesday’s loss to close positive on Thursday. The securities clearing company gained 6 Kobo to close at 12.01 per share against N11.95 per share of the previous session.
In terms of the most traded stock by value (year-to-date) on the NASD Exchange, CSCS remained in top position with 202,272,698 units of its securities worth N2.53 billion transacted by investors, while the second position is still maintained by UBN Properties with 884,529,600 units of its stocks sold for N1.2 billion.
In terms of trading volume, Food Concept Plc retained the top spot with a total transaction of 1,158,828,284 units valued at N844 billion, while UBN Properties followed with 921,841,397 units worth N1.24 billion
