NASD OTC Exchange Extends Rally, Gains 0.1% Tuesday

By Adedapo Adesanya

There was a marginal rise during Tuesday’s trading session at the NASD Over-The-Counter (OTC) Securities Exchange as the market capitalization rose to 516.81 billion from Monday’s 516.76 billion, this spelled that the market gained N5 million equivalent to 0.1 percent.

This was also extended to the NASD Security Index (NSI), which went up by 0.1 percent or 0.07 points to close at 719.35 points in contrast to yesterday’s 719.28 points.

There was also a higher volume of transactions on the second trading day of the week as the volume of shares traded by investors at the platform for unlisted firms in the country went up significantly by 731.51 percent to 485,720 units from Monday’s 58,414 units.

Value of the traded securities also kept up to pace as it rose more than N3.8 million to N6.6 million from Monday’s 2.8 million, indicating a 132.39 percent increase.

The only downside to Tuesday’s transactions was the number of deals executed by traders, which went down by 62.5 percent to 3 from 8 deals which were executed yesterday.

Central Securities Clearing System (CSCS) Plc regained the spot as the market’s only price gainer as its stocks rose slightly by N0.01 or 0.07 percent to trade for N13.50 from N13.49.

Like the previous session, the market recorded no price loser on Tuesday.

At the market, Food Concept Plc led the top trades by volume (year-to-date) with transactions of 1,158,797,004 units valued at N843.97 billion, while Central Securities Clearing System (CSCS) Plc topped the chart by value (year to date) at N2.53 billion achieved from the sale of 202,272,698 units of its stocks.

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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