NASD OTC Exchange Opens Week Flat as Investors Appetite Wanes

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange closed flat on the first trading day of the new week on Tuesday, November 12, 2019. The market was shutdown on Monday to mark the Id-el-Maulud holiday declared by the Nigerian authorities.

At the close of transactions yesterday, the market capitalisation closed at N504.17 billion, the same amount recorded last Friday, while the NASD Unlisted Securities Index (NSI) also remained unchanged at 701.76 points.

However, it wasn’t a good outlook for the remaining parameters as they all recorded drops after the close of transactions on the Exchange. This was attributed to the low level of activity by investors at the market during the day.

The volume of trades on Tuesday went down by 99.8 percent or 25,027,709 units from 25,078,219 units quoted at the last transaction window to 50,510 units of shares transacted by traders.

In the same vein, the total value of trades went down by 97.5 percent or N25.2 million to N633,490 compared with N25.8 million that was exchanged by investors last Friday.

Business Post reports that a total of five deals were executed by traders during the Tuesday’s trading session in contrast to the seven deals recorded at the previous session.

However, Food Concept Plc retained the top spot on the chart of the most active stock by volume (year-to-date) with a total of 1,158,828,284 units of its shares sold for N844.0 billion, while UBN Properties followed with 921,841,397 units worth N1.24 billion.

In the terms of value, Central Securities Clearing System (CSCS) Plc remained number one on the table, trading 202,272,698 units worth N2.53 billion and it is trailed by UBN Properties, which has sold 884,529,600 units for N1.2 billion.