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Unlisted Securities End Week Flat Despite Rise in Volume

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By Adedapo Adesanya

Rise in the total volume of shares transacted on Friday, January 24, 2020 on the floor of the NASD Over-the-Counter (OTC) Securities Exchange was not enough to make the market close bullish for the second successive trading session as key parameters closed flat.

The last session of the week saw a total of 469,014 units transacted by investors, higher than the 106,810 units recorded at the market on Thursday. This indicated that the trading volume for the day increased by 339 percent or 362,204 units.

Also, the value of shares exchanged by traders increased at the close of Friday’s session by 439 percent or N5.3 million to N6.5 million from N1.2 million on Thursday.

However, the number deals executed during the session decreased by one or 17 percent to five deals in contrast to the six deals executed by investors during the previous trading day.

As earlier stated, the major market gauges ended unchanged, with the market capitalisation staying static at N507.59 billion, while the NASD Unlisted Security Index (NSI) remained at 706.52 points.

ARM Life Plc ended the week as the most traded stock by volume (year-to-date) with 29 million units of its shares worth N18.3 million exchanged at the market, while CSCS Plc was in second place with 916,975 units worth N10.6 million, with UBN Property Company coming into the third position after selling 745,800 units of its shares worth N1.2 million.

By value, Niger Delta Exploration and Production (NDEP) has transacted 567,600 units of its shares worth N180 million since the first trading day of this year till yesterday, while FrieslandCampina Wamco Nigeria has exchanged 330,275 units for N44.4 million, with ARM Life Plc trading 29,000,000 units of its securities valued at N18.3 million.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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