NASD OTC Exchange Records Low Turnover Thursday

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange could not keep up with the gains it printed on Wednesday as it closed flat on Thursday, January 16, 2020.

It was observed that the market recorded low trading activity, leaving the market capitalisation unchanged at N504.79 billion, and the NASD Unlisted Securities Index (NSI) at 702.62 points.

During the session, investors transacted a total of 470 shares compared with the 768,050 units exchanged at the previous session, indicating a decline by 99.9 percent or 767,580 units.

Also, the total value of securities exchanged on Thursday reduced by 99.4 percent or N9.2 million as the turnover for the day stood at N52,898.50 in contrast to N9.3 million realised on Wednesday.

Similarly, the number of deals executed by market participants yesterday went down by 92.86 percent or 13 deals as only a single deal was recorded in the day against 14 deals recorded at the previous session.

ARM Life Plc remained as the most traded stock by volume (year-to-date) with 29 million units of its shares worth N18.3 million traded. Central Securities Clearing System (CSCS) Plc ended the day at second place with 766,975 units worth N8.8 million, while Niger Delta Exploration and Production (NDEP) Plc stayed in third position with 560,600 units traded at N176.8 million.

But in terms of the most active stock by value (year-to-date), the Niger Delta Exploration and Production (NDEP) Plc closed yesterday on top of the log with 560,600 units worth N176.8 million. ARM Life Plc remained in second place with 29,000,000 units transacted for N18.3 million, while CSCS Plc followed in third spot with 766,975 units worth N8.8 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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