NASD OTC Securities Market Opens Week Flat

October 24, 2023
NASD OTC securities market

By Adedapo Adesanya

The key performance indicators of the NASD Over-the-Counter (OTC) Securities Exchange remained unchanged on Monday, October 23, with the market capitalisation closing at N1.130 trillion and the NASD Unlisted Security Index (NSI) intact at 833.63 points.

Business Post reports that the stalemate was recorded after the alternative bourse ended the first trading session of the week with no single price gainer or loser, as the stock prices of companies on the platform maintained stability.

Recall that last week, the NASD OTC securities market was bullish as each of the five trading days ended in the green territory as a result of renewed confidence in the market by traders.

According to Monday’s trading data, investors traded a total of 5.3 million units of securities, in contrast to the 257,770 units of securities transacted in the preceding session, indicating a jump of 1,942.9 per cent.

Also, the value of shares exchanged by the market participants went higher by 21.9 per cent to N32.9 million from the N27.0 million recorded last Friday.

The total number of deals closed up by 18.2 per cent to 13 transactions from the 11 deals quoted in the preceding market day.

Central Securities Clearing System (CSCS) Plc remained the most traded stock by volume on a year-to-date with a turnover of 1.1 billion units of stocks valued at N22.2 billion, UBN Property Plc was in second place for selling 951.8 million units for N949.4 million and Geo-Fluids Plc stood in third place with the sale of 668.2 units valued at N1.2 billion.

Also, CSCS Plc closed the trading session as the most traded stock by value on a year-to-date basis with the sale of 1.1 billion units worth N22.2 billion, it was followed by VFD Group with a  turnover of 26.5 million units worth N5.9 billion, Aradel Holdings Plc occupied the third place after selling 6.7 million units valued at N2.5 billion.

Adedapo Adesanya

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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