NASD OTC Closes Week With Key Parameters in Red

October 19, 2019
NASD OTC market

By Adedapo Adesanya

The final trading day of the week at the NASD Over the Counter (OTC) Securities Exchange closed on Friday, October 18, 2019 in negative as all parameters were pointing south.

Heading the poor performing market on Friday was the NASD Security Index (NSI), which dropped 0.25 percent or shed off 4.75 points from the previously quoted 698.33 points on Thursday to close at 693.58 points.

The market capitalization also went down by 0.25 percent from N499.52 billion on Thursday to close at N498.29 billion after transactions ended on Friday.

Also, the total volume of trade recorded by investors at the exchange on Friday declined by 62.03 percent or 361,108 units to 221,080 units from 582,188 units on Thursday.

Following the same trend, the total value of shares exchanged by investors on Friday, also went down, this time by 95.52 percent to N3.04 million from N67.8 million quoted at the previous session.

Also, total number of deals executed by investors during the session dropped from 14 deals recorded previously to 10 deals.

Despite this, the market had both its share of gainers and losers on Friday as Friesland saw its share price appreciate by 66 Kobo to trade for N130.66 per share from N130.

In contrast, UBN Properties saw its share price lose 15 Kobo to fall from N1.65 per share to N1.50 per share on Friday.

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

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