NASD OTC Market Ends Flat Despite Rise in Trading Volume

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Picture Credit: NASD Twitter

By Adedapo Adesanya

A rise in volume of shares transacted on Thursday, January 9, 2020 at the NASD Over-the-Counter (OTC) Securities Exchange was not able to help the market print a positive outcome as key parameters remained flat.

The session on Thursday saw a total of 13,810 units transacted by investors, 35.4 percent or 3,610 units higher than the 10,200 units recorded at the market on Wednesday.

However, this was not able to push market capitalisation beyond N501.49 billion it settled the previous day, just as the NASD Unlisted Security Index (NSI) remained unchanged at 698.04 points at the close of business.

During the session, despite the rise in the trading volume yesterday, the value of shares exchanged by traders declined by 33.7 percent or N1.2 million from N3.3 million to N2.1 million.

The number deals executed during the session, however, increased by seven deals or 350 percent from two deals at the midweek session to nine deal executed yesterday. The market further closed without any price gainer or loser.

At the close of transactions, ARM Life Plc was the most traded stock by volume (year-to-date) with 29 million units of its shares worth N18.3 million traded. Niger Delta Exploration and Production (NDEP) Plc was in second place with 80,595 units traded at N25.5 million, while NIPCO Plc came third with 80,150 units traded at N5.5 million.

By the value of trades (year-to-date), the Niger Delta Exploration and Production (NDEP) Plc holds the top till date with a total transaction of 80,595 units worth N25.5 million, ARM Life Plc was in second place with 29,000,000 units transacted valued at N18.3 million, while NIPCO Plc followed with 80,150 units worth N5.5 million.

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