NASD OTC Closes Flat Tuesday as Trading Volume Booms 

By Adedapo Adesanya 

The volume of trades recorded at the NASD Over-the-Counter (OTC) Securities Exchange increased on Tuesday, December 3, 2019 despite the market closing flat.

Business Post reports that at the close of transactions yesterday, the trading volume increased by 35,321 percent to 4,410,037 units from 12,450 units printed on Monday.

Also, the value of transactions carried out by investors rose during the day by 565.43 percent to N9.3 million in contrast to N1.4 million worth of shares traded the previous day.

At the end of Tuesday’s transactions, the total number of deals executed by market investors went up by one to 6 deals against 5 deals executed during the previous session.

Despite the positive activity level at the market yesterday, the key market indicators closed unchanged. The NASD Unlisted Securities Index (NSI) remained at 692.82 points, while the market capitalisation stayed at N497.75 billion.

Like in the previous day, the market closed on Tuesday with neither price gainers nor price losers as all securities listed on the trading platform retained their initial prices.

At the close of transactions, 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 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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