NASD OTC Market Closes Flat Monday on Waning Trade
By Adedapo Adesanya
After closing Friday’s transactions in the negative territory with key parameters pointing down, the NASD Over the Counter (OTC) Securities Exchange closed on Monday, October 21, 2019 without much improvement.
At the first trading session of the new week, the NASD Security Index (NSI) and the market capitalization remained flat from the numbers quoted at the last transaction day, leaving the index at 693.58 points and the market capitalisation at N498.29 billion.
However, the volume of the transactions further declined at the session, going down by 91.3 percent or 201,804 units to close at 19,276 units from 221,080 units, while the value of the traded securities also went down by 35.8 percent or N1.09 million to finish at N1.95 million from N3.04 million.
During the trading day, a total of four deals were executed by investors, lower than the 10 deals transacted at the previous market day, indicating a decline by 60 percent or six deals.
The over-the-counter market for unlisted securities saw no gainers or losers on Monday as share prices remained at their previously quoted rates at the close of business on Monday.
The top trades position by volume (year to date) was still held by Food Concept Plc 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 spot 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, UBN Properties followed is next on the list with 884,529,600 units of its stocks sold for N1.2 billion.
As traders prepare for today’s session, they would be expecting things to change for the better at the NASD securities exchange so as to boost confidence. The market has not had it good in recent times and this would be anticipated to change.