Adedapo Adesanya
By Adedapo Adesanya
Securities worth N7.3 million were transacted on Friday, May 22 at the NASD Over-the-Counter (OTC) Securities Exchange, data from the bourse showed.
This was higher than the N254,760 worth of trades recorded at the previous session by a whopping 2,748 percent or N7.1 million.
However, despite this rise in the transaction value, the unlisted securities market closed flat yesterday for the fourth consecutive session.
Business Post reports that the NASD Unlisted Security Index (NSI) remained unchanged yesterday by 688.51 points, while the market capitalisation stayed at N505.76 billion.
Apart from the rise recorded in the value of transactions on Friday, there was also an increase in the total volume of shares traded by investors at the NASD Exchange.
A total of 330,210 units of stocks were transacted at the bourse, higher than 2,123 units of securities transacted at the previous session, indicating a 15,454 percent surge.
In addition, the market recorded a higher number of deals during the trading day as five deals were executed at the exchange compared with the single deal of Thursday, indicating a 400 percent surge.
The five deals of the session were from Niger Delta Exploration and Production Plc (NDEP) with two deals and Lighthouse Financial Services Plc, Central Securities Clearing Systems (CSCS) Plc and FrieslandCampina WAMCO Nigeria Plc, which had one deal each.
The market closed yesterday’s session with no price advancer or decliner.
But at the close of business, ARM Life Plc remained the most traded stock by volume (year-to-date) with 7.4 billion units of its shares worth N4.6 billion. Food Concept Plc was in second place with 110 million units traded at N77 million, while Lighthouse Financial Services Plc was in third place with 48.3 million units traded at N24 million.
In terms of value of trades (year-to-date), ARM Life Plc still held the top spot with a total of 7.4 billion units of its shares traded for N4.6 billion. NDEP Plc came in second place with 6.9 million units transacted for N2.13 billion, while FrieslandCampina WAMCO Nigeria Plc filled the third spot with 2.4 million units worth N294.2 million.
