NASD: Investors Trade N6.5m Stocks as Index Rises 1.78%

NASD OTC market

By Adedapo Adesanya

Securities worth N6.5 million were transacted on Monday, June 29 at the NASD Over-the-Counter (OTC) Securities Exchange. The trades were 482.6 percent higher than the previous session’s N1.1 million.

During the session, investors traded a total of 65,222 stocks at the exchange in contrast to last Friday’s 16,740 shares, representing a 57.7 percent increases.

Also, the number of deals executed on Monday improved by 120 percent to 11 deals from the previous trading day’s five deals.

Business Post reports that yesterday, the unlisted securities market closed stronger by 1.78 percent as a result of the improvement in the market activities.

This helped the NASD Unlisted Security Index (NSI) to increase by 12.5 points to 715.51 points from the previous session’s 703.01 points.

Equally, it boosted the market capitalisation by N9.18 billion, closing at N525.59 billion as against N516.41 billion recorded at the previous session.

It was observed that the NASD OTC market recorded a price movement yesterday with the Central Securities Clearing Systems (CSCS) Plc appreciating by 87 kobo or 6.25 percent to sell at N13.92 per share in contrast to N13.05 of the previous session.

Also, FrieslandCampina WAMCO Nigeria Plc appreciated by N4.95 or 3.96 percent to quote at N124.95 per share in contrast to last Friday’s N120 per share.

On the activity chart, ARM Life Plc was the company with the highest number of stocks traded year-to-date, with 7.4 billion units sold for N4.6 billion. it was followed by CSCS Plc, which has transacted 196.7 million units exchanged for N2.6 billion, and Food Concept Plc, which has exchanged 110 million units of its shares worth N80.5 million.

Equally, ARM Life Plc closed the session as the company with the highest value of securities transacted from the first trading day of 2020 till yesterday. The insurance firm has traded 7.4 billion units of its shares worth N4.6 billion at the bourse. It was trailed by CSCS Plc, which has transacted 196.7 million units worth N2.6 billion, while  Niger Delta Exploration & Production Plc (NDEP) Plc has sold 7.9 million units of its securities valued at N2.4 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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