NASD OTC Exchange Trade Volume Drops 99.2% Friday

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By Adedapo Adesanya

The key parameters of the NASD Over the Counter (OTC) Securities Exchange closed unchanged on Friday, October 4, 2019, the same level they have remained since Wednesday, when the market return from Tuesday’s break to celebrate Nigeria’s 59th Independence Day.

Business Post reports that at the close of business yesterday, the market capitalisation of the NASD Exchange closed at N502.64 billion, while the NSI also stayed flat at the 699.63 points.

However, the volume of trades recorded by investors at the exchange on Friday declined by 99.2 percent or 1,049 units to 701 units from 1,750 units on Thursday.

Following the same trend was the total value of shares exchanged by investors on Friday, which went down by 99.8 percent N11.28 million to N24,951 from N11.3 million at the previous session.

During the trading session, the market recorded a decline of 50 percent in the total number of deals executed by investors. A total of three deals were carried out yesterday compared with six deals of the last session.

There were no price gainers or losers on Friday, but Food Concept Plc retained the top spot on the top trades position by volume (year to date) with a total transaction of 1,158,797,004 units valued at N843.97 billion, while UBN Properties followed with 891,085,220 units worth N1.21 billion.

Central Securities Clearing System (CSCS) Plc also retained top position in terms of value by year-to-date with 202,272,698 units worth N2.53 billion transacted from the beginning of this year till date, with UBN Properties following on the list with 884,529,600 units of its stocks sold for N1.2 billion.

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