NASD Exchange Trades Flat as Trading Volume Falls

November 19, 2019
NASD Exchange
Image Credit: The Guardian Nigeria

By Adedapo Adesanya 

The NASD Over-the-Counter (OTC) Securities Exchange traded flat on the first trading day of the new week on Monday, November 18, 2019 as key market parameters remained unchanged from the figures they closed with last Friday.

According to data harvested by Business Post from the NASD platform, the NASD Unlisted Securities Index (NSI) remained static at 714.21 points at the close of transactions yesterday.

In the same vein, the market capitalisation did not record any movement during the trading session on Monday, closing at N513.12 billion, the same level it was at the last session.

However, the volume, value of trades as well as the total number of deals transacted by investors, which appreciated at last Friday’s session, took a reversal yesterday to close pointing south.

Leading the pack was the volume of trades made by investors, which declined to 650 units after it rose to 1,700 units last week, indicating that it dropped by 1,050 units or 61.8 percent at Monday’s session.

Similarly, the value of transactions recorded at the market for unlisted securities in Nigeria depreciated by 84.5 percent or N112,804 on Monday to N20,645 in contrast to N133,449 worth of shares recorded previously.

Also posting a negative outlook at the end of Monday’s transactions was the total number of deals executed by traders, which went down by 4 or 57.14 percent to 3 deals against 7 deals executed during the previous trading session.

Like in the previous session, the market closed on Monday with neither price gainers nor price losers.

But at the close of transactions, Food Concept Plc still held the market’s top of trades position by volume (year-to-date) with a total of 1,158,828,284 units of its shares valued at N844 billion transacted so far, while UBN Properties followed with 921,841,397 units worth N1.24 billion.

On the top trades by value (year-to-date) Central Securities Clearing System (CSCS) Plc is still the company to beat with 202,272,698 units worth N2.53 billion, while UBN Properties is one the second position on the list with 884,529,600 units of its securities sold for N1.2 billion.

Adedapo Adesanya

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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