NASD OTC Market Posts N341m Transactions Friday

Nigeria's Unlisted Securities Market Sheds 0.78%, NASD Shares up 8.31%
Picture Credit: NASD Twitter

By Adedapo Adesanya

Transactions worth N340.8 million were carried out on the trading platform of the NASD Over-the-Counter (OTC) Securities Exchange on Friday, Business Post reports.

This was higher than the N7.2 million worth of trades executed on the OTC market for unlisted securities in Nigeria on Thursday, representing an increase of N333.6 million or 4,612 percent.

During yesterday’s trading session, a total of 1,700,413 units of shares of company on the platform were transacted by investors, higher than the 128,728 units that exchanged hands in the previous day, indicating that the trading volume rose by 1,220.9 percent or 1,571,685 units.

In addition, the total number of deals executed by traders also went up during the day by 137.5 percent or 11 deals to 19 deals from the 8 deals recorded at the previous session.

However, despite the activity level rising at Friday’s session, the major market barometers;  the NASD Unlisted Security Index (NSI) and the market capitalisation closed flat.

Business Post reports that while the NSI remained at 706.88 points, the level it was at the previous session, the market capitalisation stayed glued at N507.85 billion, the same figure its was on Thursday.

Unlike on Thursday, the market finished trading activities on Friday with neither price gainer nor price loser.

Food Concept Plc remained as the most traded equity by volume (year-to-date) with the sale of 1,158,828,284 units of its securities valued at N844 billion, while the second position was still occupied by UBN Properties, which has traded 921,918,497 units of its shares worth N1.24 billion at the NASD Exchange.

When this is checked in value terms (year-to-date), then Central Securities Clearing System (CSCS) Plc is still the occupant of the number one spot. The company has transacted 202,272,698 units of its stocks worth N2.53 billion. On the second position is UBN Properties, which has traded 884,529,600 units of its stocks for N1.2 billion.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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