Adedapo Adesanya
By Adedapo Adesanya
Only a single deal was carried out on the trading platform of the NASD Over-the-Counter (OTC) Securities Exchange on Wednesday.
For the past two weeks, trading activities the exchange have been very low especially as investors continue to monitor events from across the globe.
The coronavirus pandemic has made several economic activities to remain standstill and here in Nigeria, government has asked those in Lagos, Abuja and Ogun State to remain indoors to stop the spread of the virus.
As a result, trading on the NASD OTC market has been done remotely.
At the midweek session, the unlisted securities market in Nigeria closed flat for the second time this week.
The market capitalisation remained at N512.89 billion at the close of transactions yesterday, while the NASD Unlisted Security Index (NSI) ended the day at 698.22 points.
The only trade at the market on Wednesday was from an energy investment company, Niger Delta Exploration and Production (NDEP) Plc.
It was observed that 2,120 units of the company’s shares worth N572,400 were transacted at the market yesterday.
This brought about a decline in the trading volume and value. At the previous session, where a single transacted also occurred, 800,000 stocks worth N9.44 million exchanged hands.
This indicated that while the trading volume reduced by 97 percent, the value of trades decreased by 94 percent, with the number of deals closing flat.
ARM Life Plc closed the session as the most active stock by volume of shares traded year-to-date with 7.4 billion units worth N4.6 billion. Food Concept Plc was in second place with 110 million units worth N77 million, while Lighthouse Financial Services Plc held the third position with 47.8 million units of its shares worth N23.8 million.
In terms of the most traded stock by value year-to-date, ARM Life Plc also held remained on top of the chart for trading 7.4 billion units of its securities valued at N4.6 billion. Niger Delta Exploration and Production (NDEP) Plc followed with 6.5 million units exchanged for N2.03 billion, while FrieslandCampina WAMCO Nigeria Plc has transacted 2.3 million units of its securities valued at N279.2 million.
