NASD OTC Exchange Market Capitalisation Reaches N547.06bn

NASD OTC market

By Adedapo Adesanya

The market capitalisation of the NASD Over-the-Counter (OTC) Securities Exchange set a new year-to-date record of N547.06 billion on Tuesday, November 17.

At the second trading session of the week, the total value of all the unlisted securities admitted on the bourse went up by 0.91 per cent as the bulls extended their stay at the market.

This development was propelled by the rise in the stock price of Central Securities Clearing Systems (CSCS) Plc by 7.3 per cent or 99 kobo to end the session at N14.50 per unit as against N13.51 per unit it sold at the previous day.

As a result, the NASD Unlisted Security Index (NSI) jumped by 6.66 points or 0.91 per cent to settle at 735.99 points in contrast to 729.33 points it closed on Monday.

A look at the activity level on Tuesday showed that there was a slide in the units of securities exchanged by investors, who bought and sold 403,930 units, 94.3 per cent lower than the 7.0 million units traded previously.

Also, the value of securities traded by market participants reduced by 57.7 per cent to N5.9 million from the preceding day’s N13.8 million.

These transactions were carried out in two deals, five deals or 71.43 per cent lower than the seven deals recorded at the previous trading day and these two deals were executed on the day’s sole price advancer, CSCS Plc.

At the close of business, ARM Life Plc maintained its position as the most active stock by volume (year-to-date) with 7.4 billion units of its shares worth N4.6 billion. CSCS Plc was in second place with 203.9 million units worth N2.7 billion, while Food Concept Plc held the third position with 140.1 million units of its shares worth N99.8 million.

Equally, ARM Life Plc was the most active stock by value (year-to-date) for trading 7.4 billion units of its securities for N4.6 billion. Niger Delta Exploration and Production (NDEP) Plc trailed for transacting 10.9 million units valued at N3.4 billion, while CSCS Plc traded 203.9 million units valued at 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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