NASD OTC Bourse Closes Flat Amid Low Trading Activity

October 19, 2022

By Adedapo Adesanya

Amid a decline in trading value and volume on Tuesday, the NASD Over-the-Counter (OTC) Securities Exchange closed flat, with the key performance indicators remaining unchanged at the close of transactions.

The value of trades dropped 98.7 per cent during the session to N1.3 million from the preceding day’s N100.9 million, while the volume of stocks exchanged by investors went down by 98.8 per cent to 9,322 units from the 767,614 units published on Monday.

During the session, market participants executed three deals, 66.7 per cent lower than the nine deals carried on the first trading day of the week.

When the market closed for the day, the value of the NASD OTC bourse was static at N961.94 billion as the NASD Unlisted Securities Index (NSI) remained at 730.73 points.

Business Post reports that at the close of transactions, the unlisted securities market had no price gainer or loser as all admitted stocks on the platform retained their previous unit prices.

AG Mortgage Bank Plc finished the day as the most traded stock by volume on a year-to-date basis, with the sale of 2.3 billion units worth N1.2 billion, Central Securities Clearing System (CSCS) Plc also retained the second spot with the sale of 687.7 million units valued at N14.3 billion, while Mixta Real Estate Plc was in third place for trading 178.1 million units valued at N313.4 million.

CSCS Plc also maintained its position as the most active stock by value on a year-to-date basis with a turnover of 687.7 million units valued at N14.3 billion, VFD Group Plc was in second place with 29.1 million units worth N7.7 billion, while FrieslandCampina WAMCO Nigeria Plc retained the third place with the sale of 14.5 million units valued at N1.7 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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