NASD OTC Exchange Closes Flat as Volume Drops 48%

By Adedapo Adesanya

Transactions on the trading floor of the NASD Over the Counter (OTC) Securities Exchange closed flat on the first day of the new week on Monday, October 28, 2019.

This left the NASD Unlisted Securities Index (NSI) finishing at the 695.57 points it previously recorded and the market capitalisation at its previous figures of N494.67 billion.

However, there was a sharp decline in the volume of trades recorded yesterday at the market as this went down by 25.6 percent or 20,128 units to 58,500 units from 78,628 units.

Following the same trend was the total value of shares exchanged by investors on Monday, which depreciated by 48.4 percent or N2.92 million to N3.10 million from N6.02 million.

During the trading session, the market also recorded a decline in the number of deals executed, going down by 60 percent or three deals. A total of two deals were executed compared with five deals at Friday’s transactions day.

Business Post reports that the market registered no price gainer or loser on Monday.

Opening the week on the top of trades position by volume (year to date) was Food Concept Plc 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.

On the value side, Central Securities Clearing System (CSCS) Plc retained its top position with 202,272,698 units worth N2.53 billion, while UBN Properties followed with 884,529,600 units of its stocks sold for N1.2 billion.