NASD Market Closes Flat as Value of Transactions Drop

Nigeria's Unlisted Securities Market Sheds 0.78%, NASD Shares up 8.31%
Picture Credit: NASD Twitter

By Adedapo Adesanya 

The total value of shares of transacted by investors at the NASD Over-the-Counter (OTC) Securities Exchange plunged on Monday, December 2, 2019 as the key market parameters remained unchanged.

At the last trading window, total value of shares had gone up to N109.9 million, but as at the close of transactions yesterday, this went down by 98.7 percent to N1.4 million.

In the same vein, the trading volume reduced by 99.94 percent during the trading session as investors exchanged a total of 12,450 units compared with the 19.9 million units recorded last Friday.

Also having a negative outlook at the end of Monday’s transactions was the total number of deals executed by traders, which dropped to 5 deals from the 17 deals executed at the previous trading session.

Business Post reports that at the close of transactions yesterday, the NASD Unlisted Securities Index (NSI) stood static at 692.82 points, while the market capitalisation remained unchanged at N487.75 billion.

At the market yesterday, the unlisted securities market in the country closed with no price gainer or loser.

Meanwhile, Food Concept Plc still held the market’s top of trades position by volume (year to date) with a total share of 1,158,828,284 units valued at N844.0 billion, while UBN Properties followed with 921,841,397 units worth N1.24 billion.

While Central Securities Clearing System (CSCS) Plc has the top trades by value (year to date) with 202,272,698 units worth N2.53 billion, UBN Properties followed on the list with 884,529,600 units of its securities sold for N1.2 billion.

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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