Adedapo Adesanya
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange closed flat on the first session of this week as major market barometers made no movement at the close of business.
The market capitalisation, which captures the total value of shares on the platform, remained at N508.84 billion, while the Unlisted Security Index closed at at 692.71 points.
However, the activity level closed in red, with the volume of transactions going down by 79 percent to 8.4 million units from 39.2 million units recorded at the last session.
These trades were carried out in three deals executed during the session, 25 percent or one deal lower than the four deals carried out at the previous trading session, which was last Friday.
These trades were executed by Lighthouse Financial Services Plc, which had two deals, and FrieslandCampina WAMCO Nigeria Plc, which recorded the remaining one deal.
For the total value of these transactions, the market recorded N6.4 million, 72 percent lower than shares worth N22.8 million transacted at the last session.
Business Post observed that Lighthouse accounted for N4.17 million of the total trading value, while Friesland’s single deal amounted to N2.26 million.
The market day ended with no record of a price gainer or loser.
Also, ARM Life Plc remained the most traded stock by volume (year-to-date) with 7.4 billion units of its shares traded for N4.6 billion, while Food Concept Plc was in second place after exchanging 110 million units valued at N77 million, with Lighthouse Financial Services Plc in third place for transacting 47.7 million units worth N23.8 million.
In terms of the most traded stock by value (year-to-date), ARM Life Plc still retained the top after trading 7.4 billion units of its securities worth N4.6 billion. Niger Delta Exploration and Production Plc occupied the second place after trading 6.5 million units valued at N2.0 billion, while FrieslandCampina WAMCO Plc has traded 2.2 million units worth N269.7 million.
