NASD Records Single Deal Day After Investors Snubbed Market

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

By Adedapo Adesanya

A day after the NASD Over-the-Counter (OTC) Securities Exchange recorded no trade on the platform, a single transaction occurred at the market on Thursday, April 2.

At the previous session, NASD OTC recorded no trades on its platform as a result of the impact of the coronavirus pandemic which has made investors skeptical and less confident in putting their money in securities.

However, the single deal of yesterday could not after the direction of the market as the NASD Unlisted Securities Index (NSI) remained at 692.71 points, while the market capitalisation stayed at N508.84 billion.

The single deal of the day was the trading of 100 units of FrieslandCampina WAMCO Nigeria Plc worth N12,000.

The trading volume was 99.96 percent lower than what was recorded on Tuesday, while the value was 99.62 percent lower than what was transacted on Tuesday, N3.13 million.

ARM Life Plc closed the session as the company with the most traded stock by volume (year-to-date) with 7.4 billion units worth N4.6 billion. Food Concept Plc was in second place with 110 million units worth N77 million, while Lighthouse Financial Service Plc transacted 47.7 million units of its shares worth N23.8 million.

When this is view by value, ARM Life Plc still retained the highest number of stocks traded with 7.4 billion units worth N4.6 billion. Niger Delta Exploration and Production (NDEP) Plc followed with 6.5 million units exchanged for N2.03 billion, while FrieslandCampina Wamco Nigeria Plc traded 2.2 million units of its securities valued at N269.7 million.

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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