Transactions Close Bullish Friday at NASD Exchange

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By Adedapo Adesanya

The last trading day of last week at the NASD Over-the-Counter (OTC) Securities Exchange ended on a positive note after the major indicators recorded marginal gains.

It was the second straight day the unlisted securities market was trading bullish as investors are beginning to show confidence in the market, which had been very wavy lately.

At the close of transactions last Friday, the market capitalisation slightly improved by 0.01 percent or N70 million to settle at N501.14 billion in contrast to N501.07 billion it ended on Thursday,.

In the same vein, the NASD Unlisted Securities Index (NSI) also rose marginally by 0.01 percent or 0.09 points to 697.54 points from 697.45 points recorded at the previous session.

However, the level of activity was weak during the session as the volume of shares transacted by investors at the exchange reduced by 73.9 percent or 729,505 units to 257,207 units from 986,712 units at Thursday’s session.

In addition, the value of securities exchanged at the market during the day also went down by 76.8 percent or N43.1 million to N13.0 million from N56.1 million worth of shares recorded previously.

In the same vein, the total number of deals executed by traders at the NASD Exchange last Friday also dropped by 52.38 percent or 11 deals to 10 deals from the 21 deals executed on Thursday.

Business Post reports that the market closed with no price gainers or losers as share prices of stocks listed on the exchange ended the session the same rate they closed the previous day.

Food Concept Plc remained the most traded equity by volume (year-to-date) with 1,158,949,954 units of its shares valued at N844.1 million, while UBN Properties followed with 941,820,697 units worth N1.27 billion.

By value (year-to-date), Central Securities Clearing System (CSCS) Plc remained the most active stock at the market with 202,272,698 units worth N2.53 billion, while UBN Properties followed with 884,529,600 units sold for N1.2 billion.

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