By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange rose 0.79 percent day-on-day on Friday, May 15, 2020, wrapping the week, which witnessed both losses and gains with another appreciation.
At Monday’s session, both the market capitalisation and index dropped 0.88 percent. On Tuesday, they further dropped 0.84 percent, but on Wednesday, there was a slight recovery of 0.03 percent. On Thursday, the market closed flat before making the second growth yesterday.
During the session, the NASD Unlisted Security Index (NSI) increased by 5.43 points to end the day at 693.94 points from 688.51 points recorded at the previous session.
Following the same trend, the market capitalisation moved up by N3.9 billion to close at N509.75 billion from N505.76 billion.
It was observed that this growth was spurred by gains recorded by an oil investment company, Niger Delta Exploration and Production (NDEP) Plc, which recorded a price appreciation of of N22 or 7.5 percent to close at N292 per share in contrast to the previous N270 per share.
At the trading day, there was another surge in the total volume of securities traded by 30 percent as a total of 19,625 units of stocks exchanged hands compared with the 15,100 units of securities traded on Thursday.
These transactions were worth N1.7 million, lower than N4.06 billion worth of shares transacted at the previous session, indicating a 58.5 percent decline in the trading value.
These trades were executed in five deals and they came from Central Securities Clearing Systems (CSCS) Plc, three deals; FrieslandCampina WAMCO Nigeria Plc and NDEP Plc, one deal each.
At the previous session, the market recorded only two deals. This indicated that the number of deals achieved on Friday increased by three or 150 percent.
Business Post reports that at the close transactions yesterday, ARM Life Plc ended the session as the company with the highest number of shares sold (year-to-date). The insurer has traded 7.4 billion units of its shares worth N4.6 billion in the year.
It was followed by Food Concept Plc, which has traded 110.0 million units worth N77 million, and Lighthouse Financial Service Plc, which has exchanged 48 million units of its shares for N24 million.
In terms of the most traded stock by value, ARM Life Plc also maintained the topmost position with 7.4 billion units of its shares sold for N4.6 billion. The day’s sole price riser, NDEP, followed with 6.8 million units exchanged for N2.12 billion, while FrieslandCampina WAMCO Nigeria Plc stood in third place with 2.4 million units of its securities traded for N292.6 million.
Modupe Gbadeyanka