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NASD Exchange Starts Fresh Week in Flat Territory

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By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange opened the new week in the flat territory on Monday, March 22 as major market performance indicators remained rooted in their previous positions.

At yesterday’s trading session, the NASD market capitalisation saw no addition as it closed at N505.20 billion just as the NASD Unlisted Security Index (NSI) settled at 710.73 points, the same level it ended last Friday.

However, the level of activity witnessed movements as the volume of shares transacted by investors decreased by 99.9 per cent as a result of the sale of 338 units of securities during the session compared to the 249,000 units of securities exchanged at the previous session.

Equally, there was a decline in the total value of shares transacted by traders on Monday by 87.3 per cent to N108,160 from N848,619 recorded on the prior trading day.

In the same vein, the number of deals executed yesterday saw a 75.00 per cent plunge due to the single deal carried out compared with the four deals completed last Friday at the NASD Exchange.

According to data obtained by Business Post, the lone deal was carried out on Monday on Niger Delta Exploration and Production (NDEP) Plc.

At the close of transactions, the prices of securities on the alternative bourse remained unchanged as there were no price losers or gainers.

UBN Property Plc remained the most active stock by volume (year-to-date) at the unlisted securities market for trading 21.9 million units of its shares for N24.6 million. Central Securities Clearing Systems (CSCS) Plc was in second place with 7.1 million units worth N109.2 million, while FrieslandCampina WAMCO Nigeria Plc held the third position with 2.9 million units of its shares worth N362.3 million.

On the flip side, the company with the highest value of stocks traded by investors on a year-to-date basis was Friesland because of the 2.9 million units of stocks sold for N362.3 million. It was trailed by NDEP Plc, which has transacted 697,087 units of its securities valued at N222.3 million, and CSCS Plc, which has exchanged 7.1 million units of its stocks worth N109.2 million.

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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