Adedapo Adesanya
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange closed in the negative territory on Tuesday after trading flat on the first trading day of the week with key parameters like the NASD Security Index and market capitalization recording declines.
The market capitalization depreciated yesterday by 0.15 percent or N790 million to close at N512.33 billion from N513.12 billion quoted on Monday, while the NSI declined to 713.12 points after shedding 0.15 percent or 1.09 points. At Monday’s session, the NSE had closed at 714.21 points.
Despite the key parameters falling on Tuesday, the level of activity improved with the volume and value of trades alongside the total number of deals executed by traders rising at the end of transactions.
The volume of transactions, which depreciated to 650 units on Monday, rose by 53,364 percent on Tuesday as investors exchanged a total of 347,520 units at the exchange.
Also, the value of transactions surged at the market by 237,226 percent to N48.9 million in contrast to N20,645 previously recorded on Monday at the NASD exchange.
In addition, the total number of deals executed improved during Tuesday’s session by 466.67 percent or 14 deals as a total of 17 deals were recorded in the day compared with the 3 deals executed on Monday.
The market’s saw no price gainer on Tuesday, but a lone price loser, which was UBN Property Company Plc. The company’s shares went down by 14 Kobo to close at N1.49k per share against it previous value of N1.63k per share.
Central Securities Clearing System (CSCS) Plc retained its top spot as the most trade stock in value terms (year-to-date) with 202,272,698 units worth N2.53 billion. UBN Property Plc followed with 884,529,600 units of its stocks sold for N1.2 billion.
In terms of volume (year to date), Food Concept Plc held the market’s top of trades position with 1,158,828,284 units transacted for N844.0 billion, while UBN Properties followed with 921,841,397 units worth N1.24 billion.
