NASD Exchange Fires Blank Thursday to End Bullish Streak

NASD Exchange bullish

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange fired blank on Thursday, November 19 despite tradin activities on its platform.

The situation brought an end to the winning streak on the bourse after opening the trading week on a positive note. The next day, it was extended and at the midweek session, the unlisted securities market kept the positive momentum until yesterday, when the exchange closed in the flat territory.

Consequently, the market capitalisation remained intact at N547.46 billion, while the NASD Unlisted Security Index (NSI) equally made no movement from 736.53 points it ended the previous day.

However, there were movements on the activity chart, with a slight increase in the total volume of securities traded by investors at the session.

A total of 12.9 million units of stocks were transacted by market participants compared with the 12.1 million units traded on Wednesday, indicating an increase by 6.2 per cent.

Also, the value of the stocks traded by investors on Thursday increased by 3.8 per cent to N13.8 million from N13.3 million achieved on Wednesday.

However, the number of deals reduced by 37.5 per cent or three deals as a total of five deals were executed during the session in contrast to the eight deals recorded at the preceding day.

ARM Life Plc closed the session as the company with the highest number of stocks traded (year-to-date) with 7.4 billion units of its shares worth N4.6 billion. Central Securities Clearing Systems (CSCS) Plc was in the second place with 204.5 million units worth N2.7 billion, while Food Concepts Plc held the third position with 125.1 million units of its shares worth N109.4 million.

Equally, ARM Life Plc also remained the firm with highest value of stocks traded by investors on a year-to-date basis, selling 7.4 billion units of securities for N4.6 billion. Niger Delta Exploration and Production (NDEP) Plc trailed with 10.9 million units worth N3.4 billion, while CSCS Plc has traded 204.5 million units valued at N2.7 billion.

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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