NASD Market Gains 0.53% as Volume of Transactions Rises 286%

By Adedapo Adesanya

The NASD Over the Counter (OTC) Securities Exchange returned to gaining ways on Wednesday after closing flat at the market for two consecutive days.

The key parameters like the NASD Security Index and market capitalization recorded rise yesterday. While the market capitalization rose by 0.53 percent or N2.65 billion to close at N502.37 billion from N499.72 billion quoted the previous session.

Likewise, the NASD Security Index (NSI) appreciated to 699.25 points after moving up by 0.53 percent or 3.68 points compared to 695.57 points recorded at Tuesday’s trading session.

In the same vein, the rise also extended to the volume of transactions, which went up to 10,477 units on Wednesday from 2,714 units recorded on Tuesday, indicating a growth of 7,763 units or 286 percent.

However, the value of transactions recorded at the market dropped on Wednesday as it went down by 8.6 percent to close at N235,713 in contrast to N257,875 previously recorded.

Total deals executed also dropped as the number of deals closed dropped by 2 to 4 deals executed on Wednesday against 6 deals executed previously.

The market’s only gainer on Wednesday was Central Securities Clearing System (CSCS) Plc which saw its share price rise by 53 Kobo to close at N12.53 per share from N12 per share.

The company also retained its top spot on the most traded stock in value terms (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 stocks sold for N1.2 billion.

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