NASD Exchange Sheds 0.19% Amid 31,322% Rise in Market Activity

By Adedapo Adesanya

The last transaction of the week at the NASD Over-the-Counter (OTC) Securities Exchange ended with a negative outlook on Friday November 8, 2019 with the key parameters pointing south.

Business Post reports that both the NASD Unlisted Security Index (NSI) and the market capitalisation closed lower on Friday after finishing flat at the previous session.

The market capitalisation dropped 0.19 percent or N970 million to settle at N504.17 billion on Friday compared with N505.14 billion it ended on Thursday, while the NSI also depreciated by 0.19 percent or 1.35 points to settle at 701.76 points in contrast to the previous day’s 703.11 points.

Despite the NASD Exchange closing bearish on Friday, the market activity significantly increased as reflected in the trading volume of the trading session, which rose by 31,322 percent to 25,078,219 units from 79,809 units.

In the same vein, the value of the transactions increased by 1,694 percent or 24.4 million to N25.8 million in contrast to N1.4 million worth of shares transacted at the preceding trading session.

However, the total number of deals executed by investors during the trading day dropped by three as a total of seven deals were recorded compared with 10 deals at the previous session.

The market had no gainers and but recorded two losers led by Niger Delta Exploration and Production (NEDP) Plc, which saw its share price drop saw from N319.85 after losing N4.85 Kobo to sell at N315 per share.

NEDP was joined by Trustbond Mortgage Bank Plc as its share price went down by 2 Kobo to close at 70 Kobo per share from 72 Kobo.

Food Concept Plc still regained the top of trades position by volume (year to date) with transactions of 1,158,828,284 units valued at N844 billion, while UBN Properties followed with 921,841,397 units worth N1.24 billion.

However, in terms of value by year-to-date, Central Securities Clearing System (CSCS) Plc still holds the top spot with 202,272,698 units worth N2.53 billion transacted from the beginning of this year till date, while UBN Properties followed with 884,529,600 units of its stocks sold for N1.2 billion.