Adedapo Adesanya
By Adedapo Adesanya
Securities totalling 39.2 million units were transacted on Friday, March 27, at the NASD Over-the-Counter (OTC) Securities Exchange, 38,936 percent increase or 39.1 million units higher than the 100,380 units recorded at the previous session.
However, the rise in the trading volume was not enough to push the key parameters up at the ended of the session as the market closed flat for the second straight day.
Trading activities were done remotely due to the coronavirus pandemic, which has forced many businesses and activities to shut down so as to stop the spread of the virus.
At the close of business yesterday, the NASD Unlisted Security Index (NSI) remained unchanged at 692.71 points, while the market capitalisation was flat at N508.84 billion.
Business Post reports that there was was also a rise in total value of shares traded at the NASD Exchange on Friday. Securities worth N22.8 million were transacted at the bourse compared with N165,600 worth of stocks traded on Thursday. The indicated that the value of transactions surged by 13,650 percent or N22.6 million yesterday.
Also, there was an increase in the total number of deals executed by investors. Four deals were carried out during the trading day, 33.33 higher or one deal higher than three deals of the previous day.
These deals were from Lighthouse Financial Services Plc (two deals), Central Securities Clearing Systems (CSCS) Plc (one deal) and Friesland Campina WAMCO Plc (one deal).
By the time market activities were wrapped up on Friday, there was no single price advancer or decliner as shares of companies on the exchanged maintained their previous levels.
ARM Life Plc remained the most traded stock by volume (year-to-date) with 7.4 billion units of its shares transacted for N4.6 billion, while Food Concept Plc closed with 110 million units traded at N77 million. Lighthouse Financial Services Plc ended with 39.3 million units valued at N19.7 million.
In terms of the most active stock by value (year-to-date), ARM Life Plc maintained its position as number one on the log after trading 7.4 billion units worth N4.6 billion. NDEP Plc has transacted 6.5 million units worth N2.03 billion, while FrieslandCampina WAMCO Plc has traded 2.2 million units worth N267.5 million.
