Adedapo Adesanya
By Adedapo Adesanya
Investor confidence at the NASD Over-The-Counter (OTC) Securities Exchange was very low on Tuesday, December 24, 2019 as the market recorded sharp drop in the level of activity.
Business Post reports that the volume and value of shares traded by investors at the market during the session went down significantly as the key parameters of the exchange closed at their previous levels.
The market capitalisation remained at N501.14 billion at the close of transactions on Tuesday, while the NASD Unlisted Security Index (NSI) remained stagnant at 697.54 points.
However, the total volume shares traded during the trading day reduced by 57.1 percent or 237,086 units to 177,914 shares against the 415,000 units exchanged at Monday’s session.
In addition, the value of transactions recorded by investors at the days’ session decreased by 96.3 percent or N129.5 million to N4.9 million from N134.4 million at the previous day. But the number deals executed rose by 50 percent or one deal as a total of three deals were recorded on Tuesday in contrast to the two deals printed on Monday.
Like in the previous trading session of this week, the NASD Exchanged closed on Tuesday with no price gainer or price loser. The prices of stocks at the market remained at their previous levels.
Central Securities Clearing System (CSCS) Plc closed as the most active stock by value (year-to-date) with 202,272,698 units worth N2.53 billion, while UBN Properties Plc followed with 884,529,600 units valued N1.2 billion.
On the other hand, Food Concept Plc finished on Tuesday as the most traded stock by volume (year to date) with 1,158,949,954 units of its security valued at N844.1 million, while UBN Properties followed with 941,820,697 units worth N1.27 million.
After Tuesday’s session, the NASD Exchange closed for business on Wednesday for Christmas and will remain shut on Thursday for the Boxing Day holiday as declared by the federal government. Activities are expected to resume on Friday.
