Unlisted Securities Market Closes Flat Amid Rise in Volume of Trades

Unlisted Securities Market

By Adedapo Adesanya 

For the second time this week, the NASD Over-the-Counter (OTC) Securities Exchange closed flat on Thursday, November 7, 2019 as key market parameters remained unchanged.

Business Post reports that at the close of transactions on Thursday, the NASD Unlisted Securities Index (NSI) stood static at 703.11 points, the same level it was the previous day, while the market capitalization further remained unchanged at N505.14 billion.

At Wednesday’s session, the volume of trades posted by investors declined to 68,430 but this increased on Thursday by 16.6 percent or 11,379 units to 79,809 units.

Also, the value of transactions recorded at the market for unlisted securities in Nigeria increased yesterday by 62.9 percent or N554,190 to N1.4 million in contrast to N881,040 worth of shares recorded previously.

Also having a positive outlook at the end of Thursday’s transactions was the total number of deals executed by traders, which increased by 7 deals or 233.33 percent to 10 deals against the 3 deals executed on Wednesday.

Like in the previous sessions this week, the unlisted securities market closed yesterday with neither a price gainer nor price loser.

Food Concept Plc still held the market’s top of trades position by volume (year to date) with a total share of 1,158,828,284 units valued at N844.0 billion, while UBN Properties followed with 921,841,397 units worth N1.24 billion.

On its part, Central Securities Clearing System (CSCS) Plc remained the most traded equity by value (year to date) with 202,272,698 units worth N2.53 billion, UBN Properties followed on the list with 884,529,600 units of its securities sold for N1.2 billion.

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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