Adedapo Adesanya
By Adedapo Adesanya
The benchmark index of the NASD Over-the-Counter (OTC) Securities Exchange remained unchanged at the close of transactions on Thursday, April 23, 2020.
This came a day after it recorded a movement, though downward, after share price of Niger Delta Exploration and Production (NEDP) plummeted during the session.
But on Thursday, the absence of price gainer or loser left the NASD Unlisted Security Index (NSI) at the previous level of 700.73 points.
Equally, the situation made the market capitalisation to close flat N514.74 billion, the same level it settled on Wednesday.
However, there was a downward movement in the level of activity yesterday as the volume of securities traded by investors at the market depreciated by 95.8 percent. A total of 1,000 shares were transacted during the session compared with the 23,922 units recorded at the midweek session.
In addition, the value of the trades decreased by 99.6 percent to N14,000 from the N3.8 million worth of stocks traded on Wednesday.
Only a single deal occurred at the bourse yesterday and this came from the securities depository company, Central Securities Clearing Systems (CSCS) Plc. The single deal recorded on Thursday was 75 percent lower than the four deals executed at the previous session.
By the time market activities were brought to a close yesterday, ARM Life Plc maintained its position as the most traded equity at the market by volume (year-to-date). The insurer has sold 7.4 billion units of its shares worth N4.6 billion. It was trailed by Food Concept Plc, which has transacted 110 million units valued at N77 million, and Lighthouse Financial Services Plc, which has traded 48 million units for N24 million.
In terms of value of trades (year-to-date), ARM Life Plc still remained the busiest, trading 7.4 billion units worth N4.6 billion. Niger Delta Exploration and Production Plc came second with 6.5 million units transacted for N2.03 billion, while CSCS Plc has traded 24.2 million units worth N287 million.
