Adedapo Adesanya
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange shed 0.03 percent on Tuesday to reverse the gains recorded at the previous trading session.
At the Monday’s (March 9) session, both the market capitalisation and index recorded a 2.04 percent appreciation, but yesterday, the market capitalisation fell marginally by N140 million to close at N508.11 billion in contrast to N508.25 billion it ended previously.
Likewise, the NASD Unlisted Securities Index (NSI) decreased on Tuesday by 0.19 points to settle at 706.74 points against 706.93 points it recorded at the Monday’s trading day.
In the same vein, the total number of shares transacted by investors at the market dropped by 85 percent or 2.2 million units to 400,000 units from 2.6 million units.
Also, the total value of shares bought and sold at the exchange depreciated for the second day by 90 percent or N39.9 million to N4.7 million from N44.6 million.
In addition, the total number of deals executed by market participants went down by 91.67 percent or 22 deals as only two deals were recorded yesterday in contrast to 24 deals carried out previously.
Both deals were carried out by the Central Securities Clearing Systems (CSCS) Plc. However, the unlisted securities market closed with no price gainer or price decliner, according to data from the NASD.
Closing yesterday’s session as the most traded stock by value (year-to-date) was still ARM Life Plc, which has transacted a total of 7.4 billion units of its securities worth N4.6 billion. It was trailed by Niger Delta Exploration and Production (NDEP) Plc, which has traded 5.9 million units valued at N1.9 billion, while FrieslandCampina WAMCO Plc has exchanged 1.7 million units worth N210.3 million.
On the flip, ARM Life Plc remains the most active stock by volume (year-to-date) with 7.4 billion units of its shares traded for N4.6 billion. Food Concept Plc has transacted 110 million units valued at N77.0 million, while CSCS Plc has traded 15.4 million units for N176.4 million.
