NASD Exchange in Stalemate, Stock Prices Remain Static

July 1, 2020
NASD Market capitalisation

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange closed in the flat territory on Tuesday, June 30.

At the session, the major market performance indicators remained at their previous levels at the close of transactions.

Business Post reports that when market activities were wrapped up, the market capitalisation closed N525.59 billion, while the NASD Unlisted Securities Index (NSI) finished at 715.51 points.

At the second trading session for the week, a total of 11,450 units of shares were traded by investors, 82.4 percent lower than the 65,222 units of securities recorded at the preceding session.

According to data from the exchange, the number of deals executed by market participants reduced by 72.7 percent during the day.

A total of three deals were carried out by investors in contrast to the 11 deals of the preceding trading session.

These deals were executed on stocks belonging to FrieslandCampina WAMCO Nigeria Plc, Central Securities Clearing Systems (CSCS) Plc and Niger Delta Production and Exploration (NDEP) Plc.

The day’s market summary showed that these deals amounted to N1.4 million compared to the previous session’s N6.5 million, representing a 22 percent decline.

The market closed with no gainers or losers on Tuesday as all 40 securities retained their values.

ARM Life Plc closed the session as the company to have traded the highest volume of shares (year-to-date) with 7.4 billion units of its shares sold for N4.6 billion. CSCS Plc was in second place with 196.7 million units worth N2.6 billion, while Food Concept Plc held the third position with 110 million units of its shares worth N80.5 million.

Also, ARM Life Plc was the company on the NASD Exchange with the most active stock by value (year-to-date) with 7.4 billion units of its securities traded for N4.6 billion. CSCS Plc followed with 196.7 million units exchanged for N2.6 billion, while NDEP Plc was in third place with 7.9 million units of its securities valued at N2.4 billion.

Adedapo Adesanya

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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