Adedapo Adesanya
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange saw a significant improvement in the number of securities transacted on the platform by investors on Friday, January 17, 2020.
During the session, market participants exchanged a total of 4,740 units of stocks listed on the OTC market compared with the 470 units of shares traded the previous session, representing a 908.51 percent or 4,000 unit rise.
Also, the value of transactions increased on Friday after consecutive declines at the Wednesday and Thursday sessions, to N583,020 in contrast to N52,898 achieved on the previous day, indicating an improvement by 1,002 percent or N530,121.
In addition, the number of deals carried out during the trading day by traders went up by 100 percent or one deal as a total of two deals were executed by investors against a single deal the previous session. The market also closed with a single price gainer or loser.
Business Post reports that despite the improvement in the activity level on Friday, the NASD OTC Exchange ended flat, with the key market gauges remaining at their previous positions.
It was observed that the session ended with the market capitalisation still at N504.79 billion, while the NASD Unlisted Securities Index (NSI) settled at 702.62 points.
When activities were wrapped up on Friday at the OTC Market, ARM Life Plc retained its position as the most traded stock by volume (year-to-date) with 29 million units of its shares worth N18.3 million. CSCS Plc ended the day at second place with 766,975 units worth N8.8 million traded at the bourse, while Niger Delta Exploration and Production (NDEP) Plc occupied the third place with 560,600 units traded at N176.8 million.
But in terms of being the most active by value (year-to-date), Niger Delta Exploration and Production (NDEP) Plc still remained on top of the chart with 560,600 units of its securities worth N176.8 million exchanged by investors. Arm Life Plc remained in second place with 29,000,000 units transacted for N18.3 million, while CSCS Plc was in third spot with 766,975 units worth N8.8 million.
