Adedapo Adesanya
By Adedapo Adesanya
The week kicked off on a flat note at the NASD Over-the-Counter (OTC) Securities Exchange on Monday, the first day of trading on the new platform of the exchange.
Yesterday, the NASD migrated to a new trading platform called the NASD Electronic Trading System (N-ETS), abandoning the old one, the legacy system Bi-lateral Interdealer Trading System (BiTS).
The exchange had said from Monday, November 23, 2020, investors and brokers would no longer be able to access the old interface and at the close of transactions yesterday, the market was in a stalemate.
As a result, the NASD Unlisted Securities Index (NSI) remained at 736.53 points, while the market capitalisation also closed at N547.46 billion.
It was observed that the environment was discouraging yesterday as investors were cautious of the economic situations in Nigeria as the country entered another recession on Saturday.
Only a single deal was recorded during the session at the exchange compared to the four deals that were executed at the preceding session.
This lone transaction was made on securities belonging Central Securities Clearing Systems (CSCS) Plc and it was the trading of 1,000 units. At the previous session, 25,936 units of shares were traded by investors, indicating a 96.1 per cent on Monday.
Also, the value of the shares traded reduced by 99.6 per cent as N15,700 worth of securities exchanged hands compared with the N3.7 million worth of stocks exchanged last Friday.
There were no price gainers or price losers at the market yesterday.
Monday’s data showed that ARM Life Plc remained as the most traded stock by volume (year-to-date) with 7.4 billion units worth N4.6 billion, CSCS Plc has traded 204.5 million units valued at N2.7 billion, while Food Concepts Plc has transacted 152.1 million units worth N109.4 million.
Also, ARM Life Plc was the most traded stock by value (year-to-date) for trading 7.4 billion units of its shares worth N4.6 billion. Niger Delta Exploration and Production (NDEP) Plc came in second place with 10.9 million units traded at N3.4 billion, while CSCS Plc settled on the third spot with N2.7 billion made from the sale of 204.5 million units of its securities.
