Adedapo Adesanya
By Adedapo Adesanya
The bearish run at the NASD Over-the-Counter (OTC) Securities Exchange was halted on Wednesday after it closed flat at the close of transactions.
At the midweek trading session, the NASD unlisted Securities Index (NSI) remained at 735.99 points just as the market capitalisation remained in a stalemate at N539.52 billion.
In the two previous sessions, the unlisted equities market ended in red with the bears winning, but with yesterday’s outcome, none of the bears or bulls outweighed each other.
However, there was a decline in the total number of shares transacted by investors at the market on Wednesday and this was by 96.7 per cent as only 1,000 units of securities exchanged hands at the exchange compared with the 29,841 units traded on Tuesday.
In the same vein, the total value of transactions went down by 96.0 per cent to N15,500 from the previous day’s N3.4 million, while the number of deals depreciated by 66.7 per cent or two deals as only a single deal was carried out on Wednesday compared with the three deals executed the previous session and the lone deal was done on Central Securities Clearing Systems (CSCS) Plc.
Business Post reports that yesterday, the unlisted securities market recorded no price gainer or price loser as prices of all the stocks on the bourse maintained their previous prices.
At the close of transactions, ARM Life Plc remained as the most traded 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 208.7 million units traded at N2.8 billion, while Food Concept Plc was in the third place with 152.2 million units traded at N109.5 million.
In terms of the value of trades (year-to-date), ARM Life Plc still retained the top for trading 7.4 billion units worth N4.6 billion. Niger Delta Exploration and Production (NDEP) Plc came next with 11.9 million units exchanged for N3.6 billion, while CSCS Plc has traded 208.7 million valued at N2.8 billion.
