NASD Exchange: Investors Trade N2.3m Stocks in 9 Deals

NASD Exchange bullish

By Adedapo Adesanya

Trades worth N2.3 million were carried out at the NASD Over-the-Counter (OTC) Securities Exchange on Wednesday, September 23, 2020.

When compared with the previous session, the value went down by 90.0 per cent as securities worth N22.9 million were transacted on the NASD Exchange on Tuesday.

Also, the volume of shares traded by market participants at the midweek session reduced by 90.9 per cent to 1.01 million units from 11.1 million units transacted at Tuesday’s session.

Furthermore, the number of deals executed yesterday went down by 18.2 per cent as only nine deals were completed compared with 11 deals of the preceding day.

A breakdown of the deals showed that FrieslandCampina WAMCO Nigeria Plc accounted for three, Niger Delta Exploration and Production (NDEP) Plc, Central Securities Clearing Systems (CSCS) Plc accounted for two each, while Food Concepts Plc accounted for one.

Business Post keenly observed that at the close of business on Wednesday, the major performance indicators, the market capitalisation and NASD Unlisted Security Index (NSI) remained unchanged at N534.05 billion and 727.03 points respectively.

Also, the market ended the session with no single price gainer or loser as the value of all the 41 admitted securities retained their previous prices.

Insurance company, ARM Life Plc, maintained its position as the most traded securities at the NASD Exchange by volume (year-to-date) with 7.4 billion units of its shares sold for N4.6 billion. It was followed by CSCS Plc, which has traded 202.9 million units worth N2.7 billion and Food Concepts Plc, which has transacted 127.1 million units of its shares valued at N88.7 million.

In terms of the most active stock by value (year-to-date), ARM Life Plc also remained on top of the chart for trading 7.4 billion units of its shares worth N4.7 billion. It was trailed by NDEP Plc, which has transacted 8.8 million units worth N2.7 billion, and CSCS Plc, which has exchanged 202.9 million units of its securities for 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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