NASD OTC Securities Exchange Records Stalemate Tuesday

By Adedapo Adesanya

The second trading session of the week at the NASD Over-the-Counter (OTC) Securities Exchange closed in the flat territory as market barometers made no movement.

At the market yesterday, the total value of equities on the exchanged remained at N502.42 billion, while the NASD Unlisted Securities Index (NSI) equally stood at 700.23 points, the same as it was on Monday.

Yesterday’s outcome indicated that neither the bears nor the bulls won their battle for supremacy at the unlisted equities market and it was happening for the first time in the last 10 sessions.

This indicated that the share price of all the securities listed on the exchange remained unchanged at the close of trading activities yesterday.

Business Post observed that the market was dull during the trading day, as investors only transacted 1,000 units of shares, 99.95 per cent lower than the 2.0 million units recorded on Monday.

The transaction was carried out in one deal and it was on Air Liquide Plc. At the previous day, two deals were carried out, indicating a decline of 50 per cent.

Also, there was a decline in the value of transactions completed yesterday by 99.98 per cent to N6 million from N30.3 million recorded at the preceding session.

When the market closed for the day, UBN Property Plc maintained its position as the company to have traded the highest volume of shares on a year-to-date basis with the sale of 21.9 million units of its stocks worth N24.6 million. Central Securities Clearing Systems (CSCS) Plc was in second place with 7.0 million units traded at N109.1 million, while FrieslandCampina WAMCO Nigeria Plc followed in third place with 2.9 million units traded at N362.0 million.

In terms of the value of trades (year-to-date), Friesland still retained the top spot with the sale of 2.9 million units worth N362.0 million. Niger Delta Exploration and Production (NDEP) Plc trailed for trading 666,749 units of its securities for N213.3 million, while CSCS Plc remained in third place with 7.0 million units valued at N109.1 million.