Adedapo Adesanya
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange closed in a stalemate on Wednesday as investors practically stayed away from the market.
Business Post reports that the trading session was really quiet and this affected the general outcome of the market as the share prices of unlisted stocks on the exchange maintained their previous day’s closing values.
As a result, the key performance indicators of the market remained unchanged at the alternative bourse yesterday, with the market capitalisation retaining the previous value of N615.16 billion, while the NASD Unlisted Security Index (NSI) remained static at 744.58 points.
During the session, the volume of shares traded by investors depreciated by 96.2 per cent as only 3,058 units of securities exchanged hands in contrast to the 80,450 units of securities transacted at the previous session.
Equally, the value of shares exchanged by the market participants plunged by 96.5 per cent to N85,245.60 from N2.4 million recorded at the previous session.
These transactions were carried out in only four deals compared with the 12 deals carried out on Tuesday, indicating that the number of deals went down yesterday by 66.7 per cent.
When the market closed for the session, Food Concepts Plc remained as the most active stock by volume (year-to-date) as it has traded 11.4 billion units of its shares for N14.4 billion. Lighthouse Financial Services Plc retained the second spot as it has traded 1.1 billion valued at N546.2 million, while the third place remained Geo Fluids Plc for transacting 1.0 billion units worth N700.1 million.
In terms of the stock with the highest value of transactions on a year-to-date basis, it was still Food Concepts Plc with a turnover of 11.4 million units of its securities worth N14.4 billion. Nigerian Exchange (NGX) Group Plc despite exiting the platform remained in the second spot with 456.5 million units of its securities valued at N9.2 billion, while VFD Group Plc followed with 10.4 million units valued at N3.5 billion.
