NASD OTC Exchange Closes Week in Flat Territory

NASD OTC Securities Exchange

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange closed for the week on a flat note on Friday, November 20 after all stocks on the platform retained their previous prices.

This made the key performance barometers to remain static as the market capitalisation and the NASD Unlisted Security Index (NSI) closed flat at N547.46 billion and 736.53 points respectively.

At yesterday’s session, market participants executed four deals at the bourse, one deal or 20 per cent lower than the five deals executed previously.

The deals were carried out on securities belonging to both FrieslandCampina WAMCO Nigeria Plc (three deals) and Niger Delta Exploration and Production (NDEP) Plc, resulting in the exchange of 25,936 units of shares at the bourse during the session, 99.8 per cent lesser than the 12.9 million units of securities transacted at Thursday’s session.

Equally, the total value of these transactions dropped, in this case by 73.5 per cent at the session to close at N3.7 million compared to N13.8 million transacted previously.

Insurance company, ARM Life Plc, maintained its position as the most traded securities at the NASD Exchange by volume (year-to-date) with 7.4 billion units of its shares sold for N4.6 billion. It was followed by Central Securities Clearing Systems (CSCS) Plc, which has traded 204.5 million units worth N2.7 billion and Food Concepts Plc, which has transacted 152.1 million units of its shares valued at N109.4 million.

In terms of the most active stock by value (year-to-date), ARM Life Plc also remained on top of the chart for trading 7.4 billion units of its shares worth N4.6 billion. It was trailed by NDEP Plc, which has transacted 10.9 million units worth N3.4 billion, while CSCS Plc ended the week trading 204.5 million units of its securities worth N2.7 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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