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NASD OTC Exchange Closes Flat as Activity Level Drops

businesspost.ng 2024/7/16
NASD OTC securities exchange

The NASD Over-the-Counter (OTC) Securities Exchange recorded a flat outcome for the second time in this trading week on Friday, July 5.

Earlier in the week, on Tuesday, July 2 precisely, the market barometers had recorded no changes and this was repeated at the final session of the week as the market capitalisation of the bourse retained its previous day’s value of N2.111 trillion, with the NASD Unlisted Security Index (NSI) remaining unchanged at 1,541.03 points when trading activities closed yesterday.

Business Post reports that the admitted stocks on the alternative stock exchange retained their preceding session’s closing prices amid a decline in the level of activity.

The volume of securities traded on Friday went down by 46.5 per cent to 394,054 units from the 740,288 units recorded a day earlier.

Equally, the value of shares traded yesterday decreased by 24.7 per cent to N291.4 million from the N386.9 million achieved on Thursday, while the number of deals increased by 30.8 per cent to 34 deals from the 26 deals executed in the previous trading day.

Capital Hotels Plc closed the day as the most traded stock by volume on a year-to-date basis with 259.6 million units worth N1.3 billion, followed by Industrial and General Insurance (IGI) Plc with the sale of 218.8 million units valued at N46.1 million, and Mixta Real Estate Plc with 139.8 million units sold for N240.1 million.

Aradel Holdings Plc maintained its position as the most active stock by value on a year-to-date basis with a turnover of 6.6 million units worth N18.1 billion, trailed by Central Securities Clearing System (CSCS) Plc with 101.7 million units valued at N2.5 billion, and Capital Hotels Plc with the sale of 259.6 million units for N1.3 billion.

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