NASD OTC Exchange Closes Flat Wednesday

NASD OTC Exchange

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange recorded no movement on Wednesday as the major performance indicators closed in the flat territory.

At the midweek trading session at the bourse, the market capitalisation remained unchanged at N531.67 billion, while the NASD Unlisted Security Index (NSI) did not move an inch from the previous 740.98 points.

However, there were movements on the activity chart as there was a decrease in the total volume of securities traded at the session by investors to 47,544 units of securities. During the previous trading day, investors transacted 1.6 million units of securities, representing a decline of 97.1 per cent.

But the value of the transactions yesterday increased by 150.1 per cent as shares worth N4.9 million were swapped among the market participants as against the N1.9 million worth of stocks bought and sold on Tuesday.

In the same vein, the number of deals executed at the unlisted securities market improved on Wednesday by 100 per cent to two deals from the previous day’s one deal. These two deals were split between Central Securities Clearing Systems (CSCS) Plc and VFD Group Plc.

Business Post reports that when transactions were stopped for the day at the bourse yesterday, the market recorded no price gainer or loser as the share price of all the admitted companies remained unchanged.

UBN Properties Plc closed the session as the company with the most traded stock by volume (year-to-date) with 1.6 million units of its shares worth N1.9 million. Niger Delta Exploration and Production (NDEP) Plc was in second place with 196,650 units worth N68.9 million, while CSCS Plc held the third position with 46,840 units of its shares worth N739,468.

However, NDEP Plc remained as the most active stock by value in the trading year with 196,650 units of its securities traded for N68.9 million. FrieslandCampina WAMCO Nigeria Plc trailed for transacting 37,994 units of its securities valued at N5.5 million, while VFD Group Plc has exchanged 46,594 units valued at N4.9 million.

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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