NASD OTC Bourse Opens Week in Flat Territory

November 10, 2020
Nigeria's Unlisted Securities Market Sheds 0.78%, NASD Shares up 8.31%
Picture Credit: NASD Twitter

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange kicked-off the week on a flat note as the major performance indicators remained unchanged at the close of tranactions on Monday, November 9.

It was observed that the market capitalisation of the unlisted securities ecosystem in Nigeria remained at N528.38 billion, while the NASD Unlisted Security Index (NSI) closed at 719.31 points.

At yesterday’s session, market participants executed four deals at the bourse, 50 per cent or four deals lower than the eight deals executed previously.

The deals were carried out on securities belonging to FrieslandCampina WAMCO Nigeria Plc and it led to the trading of 2,347 units of shares at the bourse during the session, 99.3 per cent lesser than the 332,627 units of securities transacted at Friday’s session.

Equally, the total value of these transactions dropped, in this case by 99.7 per cent, at the session to N328,580 compared to N95.1 million transacted previously.

As the market wrapped for the day at the bourse, there was no price movement as all the 41 admitted securities retained their previous prices.

Insurance company, ARM Life Plc, maintained its position as the most traded securities at the NASD Exchange by volume (year-to-date) with 7.4 billion units of its shares sold for N4.6 billion. It was followed by Central Securities Clearing Systems (CSCS) Plc, which has traded 203.5 million units worth N2.7 billion and Food Concepts Plc, which has transacted 128.1 million units of its shares valued at N90.2 million.

In terms of the most active stock by value (year-to-date), ARM Life Plc also remained on top of the chart for trading 7.4 billion units of its shares worth N4.6 billion. It was trailed by Niger Delta Exploration and Production (NDEP) Plc, which has transacted 10.7 million units worth N3.3 billion, and CSCS Plc with 203.5 million units of its securities for N2.7 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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