NASD Index Sheds 0.05% as Trading Volume Drops 98%

By Adedapo Adesanya

The first trading session of the new week at the NASD Over-the-Counter (OTC) Securities Exchange ended bearish on Monday, May 4, 2020.

The NASD Unlisted Security Index (NSI), at the close of transactions yesterday, fell by 0.05 percent or 0.38 points to settle at 700.35 points in contrast to 700.73 points it recorded at the previous session.

In the same vein, the market capitalisation shed 0.5 percent or N280 million to settle at N514.46 billion compared with N514.74 billion it quoted at the last trading session on Thursday, April 30.

Business Post reports that though the market closed in red on Monday, share prices of the 39 companies on the bourse remained unchanged.

However, there was a decline in the total volume of securities transacted by investors during the session. A total of 2,750 units of shares exchanged hands compared with the 126,150 units of securities traded at the previous trading day, indicating a 97.8 percent decrease.

Also, there was a decline in the value of the shares bought and sold on Monday by 99.0 percent. Equities worth N322,000 were traded in the day compared with the N33.1 million recorded at the previous session.

But the number of deals remained flat at three and they were executed by investors who traded shares of FrieslandCampina WAMCO Nigeria Plc.

However, when the market closed for the day, ARM Life Plc was still the most traded stock by volume (year-to-date) with 7.4 billion units worth N4.6 billion. It was trailed by Food Concept Plc, which has transacted 110.0 million units worth N77 million, and Lighthouse Financial Service Plc, which has traded 48 million units valued at N24 million.

In terms of the most active stock by value (year-to-date), ARM Life Plc still occupied the top spot on the table with 7.4 billion units of its shares traded for N4.6 billion. Niger Delta Exploration Production (NDEP) Plc followed with 6.8 million units exchanged for N2.1 billion, while FrieslandCampina WAMCO Nigeria Plc stood in third place with 2.4 million units of its securities valued at N289 million.