NASD OTC Closes Flat as Volume, Value of Trades Drop

By Adedapo Adesanya

The first trading session after the Independence Day break on Tuesday at the NASD Over the Counter (OTC) Securities Exchange ended flattish on Wednesday with the market’s key parameters – NASD Security Index and Market Capitalization remaining unchanged.

Business Post had reported that transactions on Monday closed positive, but at the resumption of activities yesterday, things remained as they were at the last session except for the volume of shares traded, value of the securities.

Data from the NASD showed that the market capitalization closed unchanged at N502.64 billion, while the NASD Security Index (NSI) also remained flat at 669.63 points.

As earlier stated, the volume of trades dropped by 98.6 percent to 1,750 units, indicating a drop of 123,609 units from 125,359 units transacted on Monday.

In the same vein, the total value of transactions further dropped, this time by 93.11 percent or N3.07 million to close at N226,000 compared to a total of N3.3 million recorded at the previous session on Monday.

Also sharing in the negative outcome was the total number of deals executed, which declined by 70 percent on Wednesday to executed 3 deals against 10 deals made on Monday.

Food Concept Plc on Tuesday regained the top of trades position by volume (year to date) with transactions of 1,158,797,004 units valued at N843.97 billion, while UBN Properties followed with 891,085,220 units worth N1.21 billion.

In terms of value by year-to-date, Central Securities Clearing System (CSCS) Plc retained top spot with 202,272,698 units worth N2.53 billion transacted from the beginning of this year till date, UBN Properties followed on the list with 884,529,600 units of its stocks sold for N1.2 billion.