Search

Your search keyword '"*SECURITIES trading volume"' showing total 441 results
Start Over Descriptor "*SECURITIES trading volume" Topic financial markets
441 results on '"*SECURITIES trading volume"'

1. INDIAN STOCK MARKET REGULARITY: THE TURN OF THE MONTH EFFECT.

Author

SATISH, NEMANI and BHEEMANAGOUDA

Subjects
FINANCIAL markets, INDIVIDUAL investors, SHOW windows, MANN Whitney U Test, INVESTORS, SECURITIES trading, SECURITIES trading volume
Abstract

Recent empirical studies have identified the presence of the Turn of the Month (TOM) effect on various stock markets. This effect is a well-known calendar anomaly in stock markets, characterized by higher returns and increased trading volume around the beginning of each month. The researchers have proposed several explanations for this anomaly, including factors such as increased liquidity, window dressing practices, and news announcements. This study focuses on investigating the TOM effect in the Indian stock market, specifically focusing on size of firms and trading activity by individual investors, as well as domestic and foreign institutional investors. We analysed the closing prices of four indices (Nifty 50, S&P BSE Sensex, Nifty SmallCap 50, and BSE SmallCap) from April 2007 to February 2023. Our analysis involved using parametric t-tests and non-parametric Mann-Whitney U tests to assess the significance of our findings. The results indicate that the TOM effect is indeed significant in the Indian stock market, with higher returns observed during the days surrounding the TOM. Furthermore, this effect is more pronounced in smaller indices compared to larger ones. Additionally, we found that domestic institutional investors engage in significant trading activity towards the end of the trading month, while individual investors do not demonstrate the same pattern. Foreign investors also exhibit notable differences in trading activity between the TOM and the rest of the month. [ABSTRACT FROM AUTHOR]

Published
2023
Full Text
View/download PDF

2. Price Change and Trading Volume: Behavioral Heterogeneity in Stock Market.

Author

Li, Changtai, Huang, Weihong, Wang, Wei-Siang, and Chia, Wai-Mun

Subjects
WALL Street (New York, N.Y.), STOCK exchanges, PRICES, FINANCIAL markets, STOCKS (Finance), SECURITIES trading volume, HETEROGENEITY
Abstract

The well-known Wall Street adage that states, "It takes volume to make prices move" has long suggested that there exists a positive correlation between absolute changes in stock price and trading volume. To practitioners who use technical analysis as their trading tool, trading volume has always been treated as a key signal to price change. Although many studies have empirically examined the nonlinear relationship between price change and trading volume, very few studies are able to provide a persuasive explanation for such price-volume relationship. This paper fills this gap by providing an explanation for such relationship under a framework of heterogeneous agent model with evolutionary switching mechanism. With the support of US stock market data, we first summarize some stylized facts on stock return and trading volume. We then mimic these facts using our model. The comparison between simulated and "real" time series shows that our model is not only able to replicate the seemingly chaotic fluctuations of the financial market but also able to explain how stock prices and trading volumes co-evolve with agents' belief. [ABSTRACT FROM AUTHOR]

Published
2023
Full Text
View/download PDF

3. Is there a power law in the Brazilian stock market index? Evidence from 2017-2022.

Author

Jasper Feltrin, Rafael and França Almeida, Helberte João

Subjects
*STOCK price indexes, *ECONOPHYSICS, *FINANCIAL markets, *STOCKS (Finance), *SECURITIES trading volume, *SECURITIES trading
Abstract

Financial markets are complex systems, which can be studied under the lens of econophysics, including the study of phenomena such as power laws. We test the hypothesis of a power law in Ibovespa, the main Brazilian stock market index, and cannot dismiss the hypothesis that its stocks are distributed following a power law. This is most interesting, as these stocks are ordered by individual trading volumes, thus a similar pattern always emerges organically even though companies are always exchanging positions and being excluded or added to the index. [ABSTRACT FROM AUTHOR]

Published
2023

4. Assessment of Stock Market Liquidity and Efficiency: Evidence from an Emerging Country.

Author

Monga, Reema, Aggrawal, Deepti, and Singh, Jagvinder

Subjects
SECURITIES trading, COVID-19 pandemic, FINANCIAL markets, SECURITIES trading volume, LIQUIDITY (Economics), INVESTORS
Abstract

The study examines the market efficiency, multi-dimensions of liquidity, and their interconnectedness in the emerging Indian stock market. In contrast to the existing literature, the current study aims to fill the gap by testing market liquidity considering multi-dimensions such as depth, breadth, immediacy, tightness, and resilience. Second, the study used a battery of tests to determine efficiency, including the Ljung and Box, the runs test, the Bartels test, Variance Ratio, and the BDS tests. To the best of the authors' knowledge, this is also the primary study to assess how market efficiency and liquidity are related in the Indian equity market. The results of the study show that during the pandemic, the Indian stock market was proven to be efficient, suggesting that there are no abnormal returns. Moreover, the research demonstrates that during the COVID-19 pandemic, large volumes of securities were traded quickly and at a lower price effect, but with higher trading costs for completing a market transaction. However, it is worth noting that increased liquidity equates to greater efficiency, while lower liquidity equates to inefficiency. The study has underlined the most significant implications for policymakers, market regulators, investors and other stakeholders who are monitoring the asset allocations and risk management. [ABSTRACT FROM AUTHOR]

Published
2023
Full Text
View/download PDF

5. Inferring Causal Interactions in Financial Markets Using Conditional Granger Causality Based on Quantile Regression.

Author

Cheng, Hong, Wang, Yunqing, Wang, Yihong, and Yang, Tinggan

Subjects
QUANTILE regression, STOCKS (Finance), DOMESTIC markets, REGRESSION analysis, FOREIGN exchange rates, TIME series analysis, FINANCIAL markets, SECURITIES trading volume
Abstract

Granger causality analysis emerges as a typical method for inferring causal interactions in economics variables. Yet the traditional pairwise approach to Granger causality analysis may not clearly distinguish between direct causal influences from one economic variable to another and indirect ones acting through a third economic variable. In order to differentiate direct Granger causality from indirect one, a conditional Granger causality measure is derived based on the parametric dynamic quantile regression model. The proposed method can characterize the causal interactions on the entire distribution in more detail. Simulations are carried out to illustrate that the proposed tests have reasonable size and power against a variety of empirically plausible alternatives in finite samples. An economic application considers the causal relations between the stock trading volume, the stock returns, and the exchange rates for both domestic and cross-country markets by using the daily data of three financial markets: China, Japan, and South Korea. The results demonstrate that the causal effects of stock returns and stock trading volume that exert on the exchange rate are not direct at high quantile in China; besides, no direct causality is found running from stock returns to stock trading volume at high quantile in South Korea. In contrast to Granger causality in mean and Granger causality in quantile, our results provide a comprehensive and theoretically consistent extension of Granger causality to capture causal patterns in general multivariate systems, financial markets in particular. [ABSTRACT FROM AUTHOR]

Published
2022
Full Text
View/download PDF

6. Friesland Lifts Unlisted Securities Market by 0.86%.

Subjects
SECURITIES trading volume, STOCKBROKERS, CLEARING of securities, FINANCIAL markets, INVESTORS
Abstract

FrieslandCampina WAMCO Nigeria Plc played a significant role in boosting the National Association of Securities Dealer (NASD) Over-the-Counter (OTC) Securities Exchange on July 28. The stock increased the market by 0.86%, resulting in a total value of securities on the trading platform of N1.030 trillion. The NASD Unlisted Securities Index (NSI) also rose by 6.64 points to reach 782.44 points. However, Central Securities Clearing System (CSCS) Plc experienced a slight decrease in stock price. The day's trading activity showed a significant increase in volume and value of securities traded compared to the previous day. AG Mortgage Bank Plc, CSCS Plc, and Food Concepts Plc were the most traded stocks. CSCS Plc remained the most traded stock by value. [Extracted from the article]

Published
2024

7. Selling Pressure Wipes Off N7.07bn from NASD Bourse.

Subjects
SECURITIES trading volume, CLEARING of securities, INVESTORS, FINANCIAL markets, SECURITIES trading
Abstract

On July 20, the NASD Over-the-Counter (OTC) Securities Exchange experienced a negative price movement, resulting in a decrease of 0.69% in the market capitalization, equivalent to N7.07 billion. FrieslandCampina WAMCO Nigeria Plc was the main contributor to this decline, with its equity losing N4.90 per unit. However, there were two price gainers, CitiTrust Holdings Plc and Central Securities Clearing System (CSCS) Plc. The volume of securities traded decreased by 57.9%, but the value of shares increased by 2.6%. AG Mortgage Plc, CSCS Plc, and Food Concepts Plc were the most traded stocks by volume, while CSCS Plc, VFD Group Plc, and FrieslandCampina WAMCO Nigeria Plc were the most traded stocks by value. [Extracted from the article]

Published
2024

8. Unlisted Securities Exchange Crashes into Bears' Colony.

Subjects
FINANCIAL markets, SECURITIES trading volume, CLEARING of securities, STOCK prices, OVER-the-counter markets
Abstract

The NASD Over-the-Counter (OTC) Securities Exchange experienced a decline in the market due to a decrease in the share price of FrieslandCampina WAMCO Nigeria Plc. This resulted in a decrease in the market capitalization of the exchange. The NASD Unlisted Securities Index also depreciated during this time. However, there was a price gainer in Capital Bancorp Plc. The volume and value of securities traded decreased, but the number of deals increased. AG Mortgage Plc, CSCS Plc, and Food Concepts Plc were the most traded stocks by volume. CSCS Plc was the top stock by value, followed by VFD Group Plc and FrieslandCampina WAMCO Nigeria Plc. [Extracted from the article]

Published
2024

9. Three Stocks Push NASD to Bullish Territory by 0.22%.

Subjects
SECURITIES trading volume, STOCKS (Finance), CLEARING of securities, OVER-the-counter markets, BULL markets, FINANCIAL markets
Abstract

The NASD Over-the-Counter (OTC) Securities Exchange experienced a 0.22% growth, reaching a market capitalization of N1.019 trillion. This increase was primarily driven by three stocks: NASD Plc, Central Securities Clearing Systems (CSCS) Plc, and FrieslandCampina WAMCO Nigeria. NASD Plc saw the largest increase, with its stock rising by N1.59 to close at N18.09 per unit. Despite the overall growth, trading activity decreased significantly, with the volume of securities traded down by 96.2% and the value of transactions declining by 92.8%. AG Mortgage Plc, CSCS Plc, and Food Concepts Plc were the most active stocks by volume, while CSCS Plc, VFD Group Plc, and FrieslandCampina WAMCO Nigeria Plc were the most traded stocks by value. [Extracted from the article]

Published
2024

10. CitiTrust Leads NASD OTC to 0.02% Upward Movement.

Subjects
SECURITIES trading volume, STOCKBROKERS, CLEARING of securities, FINANCIAL markets, VALUE (Economics)
Abstract

CitiTrust Holdings Plc experienced a 0.02% increase in stock price at the National Association of Securities Dealers (NASD) Over-the-Counter (OTC) Securities Exchange, leading to a gain of N200 million in market capitalization. The NASD Unlisted Securities Index (NSI) also increased by 0.16 points. However, FrieslandCampina WAMCO Nigeria Plc and Central Securities Clearing System (CSCS) Plc saw a decrease in stock prices. The trading activity for the day showed a decrease in volume, value, and number of deals. AG Mortgage Bank Plc, CSCS Plc, and Food Concepts Plc were the most traded stocks by volume, while CSCS Plc, VFD Group Plc, and FrieslandCampina Plc were the most active stocks by value. [Extracted from the article]

Published
2024

11. CSCS, CitiTrust Spur NASD OTC Securities to 0.59% Growth.

Subjects
SECURITIES trading volume, OVER-the-counter markets, SECURITIES, CLEARING of securities, INVESTORS, FINANCIAL markets
Abstract

The NASD Over-the-Counter (OTC) Securities Exchange experienced a 0.57% gain, resulting in an increase in market capitalization by N5.7 billion to reach N1.011 trillion. The positive outcome was driven by the performance of Central Securities Clearing System (CSCS) Plc and CitiTrust Holdings Plc. CSCS Plc saw an appreciation of N1.02 per share, while CitiTrust Holdings grew by 60 kobo per unit. The volume and value of securities traded decreased, but the number of deals increased. AG Mortgage Bank Plc, CSCS Plc, and Food Concepts Plc were the most traded stocks by volume, while CSCS Plc, VFD Group, and FrieslandCampina WAMCO Nigeria Plc were the most traded stocks by value. [Extracted from the article]

Published
2024

12. FrieslandCampina Triggers 0.14% Loss at NASD OTC Bourse.

Subjects
SECURITIES trading volume, CLEARING of securities, FINANCIAL markets, STOCK prices, INVESTORS, OVER-the-counter markets
Abstract

The first trading session in May 2024 at the NASD Over-the-Counter (OTC) Securities Exchange ended with a 0.14% loss. This was due to a decline in the share price of FrieslandCampina Wamco Nigeria Plc. The market capitalization of the NASD OTC bourse decreased by N2.05 billion, and the NASD Unlisted Security Index (NSI) depreciated by 1.50 points. The volume and value of securities traded also decreased compared to the previous session. Aradel Holdings Plc, CSCS Plc, and Capital Hotels Plc were the most active stocks in terms of value and volume. [Extracted from the article]

Published
2024

13. Karanlık Havuzlar Uygulamasının Borsa İstanbul Üzerine Etkisi: Kalman Filtresi Yaklaşımı.

Author

CİNGOZ, Fatih, KENDİRLİ, Selçuk, COŞKUN, Semanur, and NAL, Mustafa

Subjects
KALMAN filtering, SOCIAL marketing, ANONYMITY, FINANCIAL markets, SECURITIES trading volume, WISHES, SECURITIES trading
Abstract

Copyright of Çankırı Karatekin University Journal of the Faculty of Economics & Administrative Sciences is the property of Cankiri Karatekin University, Faculty of Economics & Administrative Sciences and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Published
2021
Full Text
View/download PDF

14. Aradel Holdings Lifts NASD OTC Bourse by 2.64%.

Subjects
OVER-the-counter markets, SECURITIES trading volume, CLEARING of securities, STOCKS (Finance), STOCK prices, FINANCIAL markets
Abstract

Aradel Holdings Plc's price appreciation led to a 2.64% increase in the NASD Over-the-Counter (OTC) Securities Exchange. The company's share price rose from N1,700.00 to N1,870.00 per share, resulting in a market capitalization increase of N36.93 billion. The NASD Unlisted Security Index (NSI) also rose by 26.96 points. However, the volume of securities traded decreased by 76.9%, while the value of shares traded increased by 1,200%. Capital Hotels Plc and Aradel Holdings Plc were the most active stocks by volume and value, respectively. [Extracted from the article]

Published
2024

15. NASD OTC Exchange Falls 0.40% as Investors Book Profit.

Subjects
INVESTORS, SECURITIES trading volume, CLEARING of securities, FINANCIAL markets
Abstract

The NASD Over-the-Counter (OTC) Securities Exchange experienced a 0.40% decline on April 19th as investors took profits in Aradel Holdings Plc, which had previously boosted the unlisted market. The market capitalization of the exchange decreased by N5.8 billion, closing at N1.428 trillion. The NASD Unlisted Security Index (NSI) also dropped by 4.24 points. Aradel Holdings, a top-performing stock, lost N28.03 per unit. Despite UBN Property Plc gaining 5 Kobo per share, the NASD OTC Exchange still ended the day in decline. Trading volume, value, and the number of deals executed all increased during the session. Capital Hotels Plc remained the most traded stock by volume and value on a year-to-date basis. [Extracted from the article]

Published
2024

16. NASD OTC Bourse Remains in Red Zone After 0.02% Loss.

Subjects
SECURITIES trading volume, CLEARING of securities, INVESTORS, FINANCIAL markets, FREE ports & zones
Abstract

The NASD Over-the-Counter (OTC) Securities Exchange experienced a slight decrease of 0.02% on April 16, resulting in a N290 million decline in market capitalization. The NASD Unlisted Security Index (NSI) also dropped by 0.21 points. Afriland Properties Plc was the main contributor to the loss, with a decrease in share price. Despite the decline, the volume and value of securities traded increased significantly compared to the previous day. Capital Hotels Plc was the most active stock by volume, while Aradel Holdings Plc remained the most traded stock by value. [Extracted from the article]

Published
2024

17. NASD OTC Records 2.36% Decline on Return from 3-Day Break.

Subjects
OVER-the-counter markets, SECURITIES trading volume, CLEARING of securities, INVESTORS, FINANCIAL markets
Abstract

The NASD Over-the-Counter (OTC) Securities Exchange experienced a 2.36% decline in market capitalization after a three-day break for Eid-el-Fitr. The NASD Unlisted Security Index (NSI) dropped 24.9 points, ending the day at 1,028.79 points. Afriland Properties Plc was the only gainer, while FrieslandCampina Wamco Nigeria Plc, Aradel Holdings Plc, and Geo-Fluids Plc all experienced losses. The volume of securities traded, the value of shares transacted, and the number of deals all decreased significantly. Aradel Holdings Plc, Central Securities Clearing System (CSCS) Plc, and Capital Hotel Plc were the most active stocks by value, while Capital Hotel Plc, IPWA Plc, and Mixta Real Estate Plc were the most active stocks by volume. [Extracted from the article]

Published
2024

18. CSCS, Aradel Holdings Trigger 0.76% Loss at NASD Bourse.

Subjects
SECURITIES trading volume, CLEARING of securities, STOCK prices, FINANCIAL markets, INVESTORS
Abstract

On April 3, there was a 0.76% loss at the NASD Over-the-Counter (OTC) Securities Exchange due to declining share prices of Aradel Holdings Plc and Central Securities Clearing System (CSCS) Plc. CSCS Plc saw a decline of N1.20 per unit, trading at N22.00 per unit, while Aradel Holdings Plc lost N25.76 per share, ending at N2,200 per share. As a result, the market capitalization of the NASD bourse decreased by N11.20 billion to N1.507 trillion. The volume of securities traded increased by 170.1%, with 500,528 units exchanged, but the total amount of stocks traded declined by 15% to N91.3 million. IPWA Plc remained the most traded stock by volume, while Aradel Holdings Plc was the most active equity by value. [Extracted from the article]

Published
2024

19. OTC Equity Market Makes 2.23% Appreciation.

Subjects
OVER-the-counter markets, SECURITIES trading volume, CLEARING of securities, INVESTORS, FINANCIAL markets
Abstract

Afriland Properties Plc and Aradel Holdings Plc contributed to a 2.23% increase in the NASD Over-the-Counter (OTC) Securities Exchange on March 28. Afriland Properties Plc saw a growth of 80 Kobo per share, selling at N8.80 compared to the previous day's N8.00. Aradel Holdings Plc gained N152.88 per unit, ending at N2,152.88, compared to the previous session's N2,000.00. The OTC equity market value grew by N32.81 billion to N1.503 trillion, and the NASD Unlisted Security Index (NSI) rose by 24.2 points to 1,108.97 points. The Central Securities Clearing System (CSCS) Plc experienced a decline of 30 Kobo, trading at N23.20 per share. Trading activity increased significantly, with a surge in volume, value, and number of deals. IPWA Plc remained the most traded stock by volume, while Aradel Holdings Plc remained the most traded stock by value. [Extracted from the article]

Published
2024

20. Again, Afriland Properties Spurs OTC Stock Exchange 0.06% Gain.

Subjects
SECURITIES trading volume, STOCKS (Finance), CLEARING of securities, STOCK prices, FINANCIAL markets
Abstract

The NASD Over-the-Counter (OTC) Securities Exchange experienced a 0.06% increase on March 27, driven by the buying pressure on Afriland Properties Plc. Afriland Properties saw its share price rise by 70 Kobo to N8.00 per unit. This resulted in the market capitalization of the OTC stock exchange increasing by N860 million to N1.471 trillion. The volume and value of securities traded also saw significant increases compared to the previous trading session. IPWA Plc, Mixta Real Estate Plc, and Geo-Fluids Plc were the most active stocks by volume, while Aradel Holdings Plc, FrieslandCampina Wamco Nigeria, and Central Securities Clearing System (CSCS) Plc were the most active stocks by value. [Extracted from the article]

Published
2024

21. Afriland Properties Buoys NASD OTC Bourse by 0.06%.

Subjects
OVER-the-counter markets, SECURITIES trading volume, CLEARING of securities, BUOYS, FINANCIAL markets, STOCK prices
Abstract

Afriland Properties Plc contributed to a 0.06% increase in the NASD Over-the-Counter (OTC) Securities Exchange on March 26. The market capitalization rose by N860 million to reach N1.469 trillion, and the NASD Unlisted Security Index (NSI) increased by 0.64 points to close at 1,084.13 points. Afriland Properties Plc saw a rise in its share price to N7.30 per unit. The volume of securities traded decreased by 48.5%, but the value of shares traded decreased by 67.9%. IPWA Plc, Mixta Real Estate Plc, and Geo-Fluids Plc were the most traded stocks by volume, while Aradel Holdings Plc, FrieslandCampina Wamco Nigeria Plc, and Central Securities Clearing System (CSCS) Plc were the most active equities by value. [Extracted from the article]

Published
2024

22. Unlisted Securities Record 1.04% Appreciation.

Subjects
SECURITIES trading volume, CLEARING of securities, INVESTORS, FINANCIAL markets, OVER-the-counter markets
Abstract

The NASD Over-the-Counter (OTC) Securities Exchange experienced a 1.04% increase on March 19, with investors adding N14.92 billion to their portfolio. This led to an improvement in the market capitalization of the bourse to N1.443 trillion from N1.428 trillion the previous day. The growth was driven by two securities, Afriland Properties Plc and Aradel Holdings Plc, while Geo-Fluids Plc experienced a slight depreciation. The volume of securities traded increased significantly, but the value of shares traded decreased slightly. IPWA Plc and Mixta Real Estate Plc were the most active stocks by volume, while Aradel Holdings Plc and FrieslandCampina Wamco Nigeria Plc were the most active stocks by value. [Extracted from the article]

Published
2024

23. NASD OTC Securities Exchange Loses 0.13%.

Subjects
FINANCIAL markets, SECURITIES trading volume, OVER-the-counter markets, CLEARING of securities, STOCK prices, INVESTORS
Abstract

The stock prices of three companies on the NASD Over-the-Counter (OTC) Securities Exchange decreased, causing a 0.13% decline in the trading platform. The market capitalization of the exchange fell by N1.85 billion, closing at N1.464 trillion. The NASD Unlisted Security Index (NSI) also dropped by 1.36 points. However, UBN Property and Afriland Property saw gains in their stock prices. The volume of securities traded increased significantly, but the value of securities decreased. IPWA Plc, Mixta Real Estate Plc, and Geo-Fluids Plc were the most traded stocks by volume, while Aradel Holdings Plc, FrieslandCampina Wamco Nigeria Plc, and CSCS Plc were the most traded stocks by value. [Extracted from the article]

Published
2024

24. Investors of Unlisted Securities Lose N43bn.

Subjects
INVESTORS, SECURITIES trading volume, CLEARING of securities, FINANCIAL markets
Abstract

Investors of unlisted securities in Nigeria experienced a loss of N43 billion as the NASD Over-the-Counter (OTC) Securities Exchange ended the first trading session of the week with a 3.11% decrease. This was due to four stocks on the platform, including UBN Property Plc, Aradel Holdings Plc, Central Securities Clearing System Plc, and Resourcery Plc, being under selling pressure. As a result, the market capitalization of the bourse decreased to N1.449 trillion from N1.542 trillion, and the NASD Unlisted Security Index (NSI) dropped to 1,106.08 points. The volume of securities traded increased by 60.1%, the value of trades rose by 8.5%, and the number of deals decreased by 17.7%. [Extracted from the article]

Published
2024

25. OTC Securities Exchange Rallies by 2.84%.

Subjects
FINANCIAL markets, OVER-the-counter markets, SECURITIES trading volume
Abstract

The NASD Over-the-Counter (OTC) Securities Exchange experienced a 2.84% increase in value on January 30th, resulting in a capitalization of N1.429 trillion. This growth was influenced by Aradel Holdings Plc, FrieslandCampina Wamco Nigeria Plc, and Acorn Petroleum Plc. Although the volume of securities traded decreased, the value and number of deals executed improved. IPWA Plc and UBN Property Plc were the most traded stocks by volume, while Aradel Plc was the most traded stock by value. [Extracted from the article]

Published
2024

26. NASD OTC Securities Exchange Appreciates 0.04%.

Subjects
FINANCIAL markets, OVER-the-counter markets, SECURITIES trading volume, STOCK prices
Abstract

The NASD Over-the-Counter (OTC) Securities Exchange experienced a 0.04% increase in stock prices on January 26. The market capitalization rose by N490 million to reach N1.388 trillion, and the NASD Unlisted Security Index (NSI) improved by 0.36 points to end the day at 1,204.08 points. Afriland Properties Plc, Geo-Fluids Plc, and Acorn Petroleum Plc saw an increase in stock prices, while UBN Property Plc experienced a decrease. The volume and value of securities traded decreased, but the number of deals increased. IPWA Plc, Geo-Fluids, and UBN Property Plc were the most traded stocks by volume, while Aradel Plc, FrieslandCampina Wamco Nigeria Plc, and Geo-Fluids Plc were the most traded stocks by value. [Extracted from the article]

Published
2024

27. IGI, UBN Property Raise OTC Securities Exchange by 0.09%.

Subjects
FINANCIAL markets, OVER-the-counter markets, SECURITIES trading volume
Abstract

The NASD Over-the-Counter (OTC) Securities Exchange experienced a 0.09% increase, thanks to UBN Property Plc and Industrial and General Insurance (IGI) Plc. This resulted in a market capitalization of N1.259 trillion, up from the previous session's N1.258 trillion. UBN Property Plc saw a 15 Kobo increase in stock price, closing at N1.90 per unit, while IGI Plc had a 2 Kobo appreciation, ending at 27 Kobo per share. Trading volume, value, and number of deals decreased compared to the previous session. Purple Real Estate Plc remained the most traded stock by volume and value on a year-to-date basis. [Extracted from the article]

Published
2024

28. UBN Property, CSCS Pull Down NASD OTC Exchange by 0.40%.

Subjects
SECURITIES trading volume, CLEARING of securities, INVESTORS, FINANCIAL markets
Abstract

The NASD Over-the-Counter (OTC) Securities Exchange experienced a 0.40% decrease in its trading session due to declines in the prices of UBN Property Plc and the Central Securities Clearing System (CSCS) Plc. CSCS Plc depreciated by 84 Kobo to N17.31 per share, while UBN Property Plc lost 15 Kobo to close at N1.75 per unit. This resulted in a decrease in the market capitalization of the OTC exchange by N5.04 billion. The volume of securities traded increased by 2,337.2%, with 11 deals executed, but the value of shares bought and sold declined by 79.3%. Purple Real Estate Plc remained the most traded stock by volume and value. [Extracted from the article]

Published
2024

29. Four Stocks Slice N2.76bn from NASD OTC Bourse in One Week.

Subjects
SECURITIES trading volume, STOCKS (Finance), CLEARING of securities, FINANCIAL markets
Abstract

The NASD Over-the-Counter (OTC) Securities Exchange experienced a 0.22% decrease in its value during the final trading week of 2023. Four stocks, including Geo-Fluids Plc, NASD Plc, Friesland Campina Wamco Nigeria Plc, and Central Securities Clearing Systems (CSCS) Plc, recorded losses, resulting in a reduction of N2.76 billion in the exchange's value. The market index, NASD Unlisted Securities Index (NSI), also declined by 2.03 points to end the year at 927.47 points. Additionally, there was a significant decrease in the total value of transactions, total volume of securities traded, and the number of deals during the week. [Extracted from the article]

Published
2024

30. NASD OTC Securities Exchange Dips 0.20%.

Subjects
FINANCIAL markets, OVER-the-counter markets, SECURITIES trading volume, CLEARING of securities, STOCK prices
Abstract

The NASD Over-the-Counter (OTC) Securities Exchange experienced a 0.2% decline on December 19, resulting in a decrease in the value of the trading platform by N2.46 billion. The NASD Unlisted Security Index (NSI) also decreased by 1.81 points. The market saw three price decliners and one price advancer, with Acorn Petroleum Plc, FrieslandCampina Wamco Nigeria Plc, and Geo-Fluids Plc experiencing losses, while UBN Property Plc saw a decrease in share price. The volume of securities traded increased by 97.9%, while the value of shares traded increased by 5.1%. UBN Property Plc and CSCS Plc were the most traded stocks by volume and value, respectively. [Extracted from the article]

Published
2023

31. Nigeria's OTC Securities Exchange Rises 1%.

Subjects
FINANCIAL markets, SECURITIES trading volume, CLEARING of securities
Abstract

The NASD Over-the-Counter (OTC) Securities Exchange in Nigeria experienced a 1% increase on December 12th, with three stocks closing higher. 11 Plc, FrieslandCampina Wamco Nigeria Plc, and Central Securities Clearing System (CSCS) Plc all saw gains. This resulted in the value of the exchange rising by N12 billion to close at N1.209 trillion. The volume of securities traded increased by 99.4%, while the value of shares went down by 91.6%. UBN Property Plc, CSCS Plc, and Geo-Fluids Plc were the most traded stocks by volume, while CSCS Plc, VFD Group, and Aradel Holdings Plc were the most traded stocks by value. [Extracted from the article]

Published
2023

32. CSCS, Two Others Raise NASD Index by 0.15%.

Subjects
SECURITIES trading volume, CLEARING of securities, INVESTORS, STOCK prices, FINANCIAL markets, SECURITIES trading
Abstract

The NASD Over-the-Counter (OTC) Securities Exchange experienced a 0.15% increase on December 6, marking its third consecutive day of growth. This growth was driven by gains in three key stocks: 11 Plc, Central Securities Clearing System (CSCS) Plc, and FrieslandCampina Wanco Nigeria Plc. However, Geo-Fluids Plc saw a decrease in share price. The market capitalization expanded by N1.75 billion, and the NASD Unlisted Security Index (NSI) increased by 1.29 points. Trading volume and value increased significantly, while the number of deals decreased. CSCS Plc was the most traded stock by volume and value, followed by UBN Property Plc and Geo-Fluids Plc. [Extracted from the article]

Published
2023

33. OTC Securities Exchange Rises 0.47% as Food Concepts, Two Others Gain.

Subjects
FINANCIAL markets, OVER-the-counter markets, SECURITIES trading volume, CLEARING of securities, VALUE (Economics)
Abstract

The NASD Over-the-Counter (OTC) Securities Exchange experienced a 0.47% increase due to the rise in stock prices of Newrest Airline Services and Logistics (ASL) Plc, Food Concepts Plc, and UBN Property Plc. Newrest increased its price by N1.61, Food Concepts Plc gained 15 Kobo, and UBN Property Plc rose by 13 Kobo. However, NASD Plc saw a decline in its value. The market capitalization of the bourse increased by N5.48 billion, and the NASD Unlisted Security Index (NSI) rose by 4.04 points. The volume of securities traded, the value of securities, and the number of deals also increased. CSCS Plc remained the most traded stock by volume and value. [Extracted from the article]

Published
2023

34. Unlisted Security Index Rises 0.18% to 862.40 points.

Subjects
SECURITIES trading volume, CLEARING of securities, INVESTORS, STOCK prices, FINANCIAL markets
Abstract

The NASD Over-the-Counter (OTC) Securities Exchange experienced a 0.18% gain on Monday, December 4, with the unlisted security index rising to 862.40 points. This increase raised the value of the unlisted stock exchange by N2.5 billion to close at N1.169 trillion. The gain was driven by the rise in the share price of 11 Plc, while FrieslandCampina Wamco Nigeria Plc suffered a loss. The volume of securities traded, the value of shares bought and sold, and the number of deals all decreased compared to the previous trading day. The most traded stock by volume and value on a year-to-date basis was CSCS Plc. [Extracted from the article]

Published
2023

35. Unlisted Securities Exchange Gains 0.03%.

Subjects
FINANCIAL markets, SECURITIES trading volume, CLEARING of securities
Abstract

The NASD Over-the-Counter (OTC) Securities Exchange experienced a slight increase of 0.03% on November 2nd. The Unlisted Security Index (NSI) rose by 0.27 points to reach 828.48 points. The market capitalization of the exchange also increased by N370 million, closing at N1.123 trillion. Some notable gainers during the trading day were Newrest Asl Plc, Acorn Petroleum Plc, and UBN Property Plc. On the other hand, Central Securities Clearing System (CSCS) Plc and Geo-Fluids experienced losses. The volume of securities traded increased significantly, while the value of shares and the number of deals declined. CSCS Plc remained the most traded stock by volume and value on a year-to-date basis. [Extracted from the article]

Published
2023

36. Aradel, Friesland, Return NASD OTC Exchange to Green Zone by 1.22%.

Subjects
SECURITIES trading volume, CLEARING of securities, FINANCIAL markets
Abstract

The NASD Over-the-Counter (OTC) Securities Exchange experienced a 1.22% increase, returning to the green zone. This was due to the growth of Aradel Holdings Plc and FrieslandCampina Wamco Nigeria Plc. The value of the unlisted securities market also increased by N13.53 billion. Although the volume of securities traded decreased, the value of shares traded rose by 84.4%. CSCS Plc remained the most traded stock by volume and value on a year-to-date basis. [Extracted from the article]

Published
2023

37. Trading Volume in Dealer Markets.

Author

Malinova, Katya and Park, Andreas

Subjects
SECURITIES trading volume, FINANCIAL markets, MARKET volatility, PRICES, EMPIRICAL research, FINANCIAL research
Abstract

We develop a financial market trading model in the tradition of Glosten and Milgrom (1985) that allows us to incorporate nontrivial volume. We observe that in this model price volatility is positively related to the trading volume and to the absolute value of the net order flow (i.e., the order imbalance). Moreover, higher volume leads to higher order imbalances. These findings are consistent with well-established empirical findings. Our model further predicts that higher trader participation and systematic improvements in the quality of traders’ information lead to higher volume, larger order imbalances, lower market depth, shorter duration, and higher price volatility. [ABSTRACT FROM PUBLISHER]

Published
2010
Full Text
View/download PDF

38. Market Sidedness: Insights into Motives for Trade Initiation.

Author

SARKAR, ASANI and SCHWARTZ, ROBERT A.

Subjects
SECURITIES trading, FINANCIAL markets, SECURITIES trading volume, SPREAD (Finance), INFORMATION asymmetry, FINANCIAL market reaction
Abstract

We infer motives for trade initiation from market sidedness. We define trading as more two-sided (one-sided) if the correlation between the number of buyer- and seller-initiated trades increases (decreases), and assess changes in sidedness (relative to a control sample) around events that identify trade initiators. Consistent with asymmetric information, trading is more one-sided before merger news. Consistent with belief heterogeneity, trading is more two-sided before earnings and macro announcements with greater dispersion in analyst forecasts, and after news with larger announcement surprises. We examine the codeterminacy of sidedness, bid-ask spread, volatility, number of trades, and order imbalance. [ABSTRACT FROM AUTHOR]

Published
2009
Full Text
View/download PDF

39. Small Trades and the Cross-Section of Stock Returns.

Author

Hvidkjaer, Soeren

Subjects
SECURITIES trading volume, INDIVIDUAL investors, RATE of return on stocks, FINANCIAL markets, SECURITIES, SECURITIES trading
Abstract

This paper uses volume arising from small trades to analyze the relationship between retail investor trading behavior and the cross-section of future stock returns. The central finding is that stocks with intense sell-initiated small-trade volume, measured over the past several months, outperform stocks with intense buy-initiated small-trade volume. This return difference accrues from the first month after the portfolio formation up to two years later. Among small- and medium-sized firms, the return difference continues in the third year. The results suggest that stocks favored by retail investors subsequently experience prolonged underperformance relative to stocks out of favor with retail investors. [ABSTRACT FROM AUTHOR]

Published
2008
Full Text
View/download PDF

40. Trading Volume, Information Asymmetry, and Timing Information.

Author

JOON CHAE

Subjects
SECURITIES trading volume, INFORMATION asymmetry, LIQUIDITY (Economics), SECURITIES trading, MARKET makers, DISCLOSURE, PROXY, PRICE sensitivity, CONFIDENTIAL communications, ADVERSE selection (Commerce), CORPORATION reports, FINANCIAL markets
Abstract

This paper investigates trading volume before scheduled and unscheduled corporate announcements to explore how traders respond to private information. I show that cumulative trading volume decreases inversely to information asymmetry prior to scheduled announcements, while the opposite relation holds for volume after the announcement. In contrast, trading volume before unscheduled announcements increases dramatically and shows little relation to proxies for information asymmetry. I investigate the behavior of market makers and find that they act appropriately by increasing price sensitivity before all announcements, implying that they extract timing information from their order books. [ABSTRACT FROM AUTHOR]

Published
2005
Full Text
View/download PDF

41. Is All That Talk Just Noise? The Information Content of Internet Stock Message Boards.

Author

ANTWEILER, WERNER and FRANK, MURRAY Z.

Subjects
INTERNET forums, FINANCIAL markets, RATE of return on stocks, SECURITIES trading volume, MARKET volatility, FINANCIAL market reaction, ACCESS to information, BULL markets, INVESTMENT advisors, INVESTMENT analysis
Abstract

Financial press reports claim that Internet stock message boards can move markets. We study the effect of more than 1.5 million messages posted on Yahoo! Finance and Raging Bull about the 45 companies in the Dow Jones Industrial Average and the Dow Jones Internet Index. Bullishness is measured using computational linguistics methods. Wall Street Journal news stories are used as controls. We find that stock messages help predict market volatility. Their effect on stock returns is statistically significant but economically small. Consistent with Harris and Raviv (1993), disagreement among the posted messages is associated with increased trading volume. [ABSTRACT FROM AUTHOR]

Published
2004
Full Text
View/download PDF

42. How Do Exchanges Select Stocks for Option Listing?

Author

MAYHEW, STEWART and MIHOV, VASSIL

Subjects
LISTING of securities, STOCK options, OPTIONS (Finance), SECURITIES trading volume, MARKET capitalization, MARKET volatility, STOCK exchanges, CORPORATE finance, FINANCIAL markets, ECONOMIC globalization, GOING public (Securities), MANAGEMENT
Abstract

We investigate the factors influencing the selection of stocks for option listing. Exchanges tend to list options on stocks with high trading volume, volatility, and market capitalization, but the relative effect of these factors has changed over time as markets have evolved. We observe a shift from volume toward volatility after the moratorium on new listings ended in 1980. Using control sample methodology designed to correct for the endogeneity of option listing, we find no evidence that volatility declines with option introduction, in contrast to previous studies that do not use control samples. [ABSTRACT FROM AUTHOR]

Published
2004
Full Text
View/download PDF

43. ANALYSIS Rates market booms as real money drives trading volume.

Author

Khasawneh, Radi

Subjects
INTEREST rates, FUTURES, INTEREST rate futures, MARKETING research, FINANCIAL markets, SECURITIES trading volume
Abstract

The global interest rate derivatives markets are experiencing significant growth, with open interest increasing by over 20% in the first quarter and trading volumes spiking recently due to uncertainty about monetary policy. The three main global rates exchanges, CME Group, Eurex, and Intercontinental Exchange, reported a combined 60% year-on-year increase in trading volume. This growth is driven by positive trends in fixed income futures and short-term interest rate contracts. Despite expectations of negative numbers, the volume of fixed income trading has increased, potentially due to traders stopping out positions at the end of the month. There has also been a shift in liquidity across interest rate markets, with increased activity from real money and a focus on European rates markets. Eurex and ICE have both reported significant increases in trading volume, particularly in interest rate derivatives. Overall, the interest rate derivatives market is experiencing a boom, driven by uncertainty and shifting market dynamics. [Extracted from the article]

Published
2024

44. Asset Trading Volume with Dynamically Complete Markets and Heterogeneous Agents.

Author

JUDD, KENNETH L., KUBLER, FELIX, and SCHMEDDERS, KARL

Subjects
SECURITIES trading volume, FINANCIAL markets, PORTFOLIO management (Investments), ASSET management, SECURITIES industry, ECONOMIC equilibrium, ASSETS (Accounting), INVESTORS, MARKOV processes, CONSUMPTION (Economics), FINANCIAL management, INVESTMENT analysis
Abstract

Trading volume of infinitely lived securities, such as equity, is generically zero in Lucas asset pricing models with heterogeneous agents. More generally, the end-of-period portfolio of all securities is constant over time and states in the generic economy. General equilibrium restrictions rule out trading of equity after an initial period. This result contrasts the prediction of portfolio allocation analyses that portfolio rebalancing motives produce nontrivial trade volume. Therefore, other causes of trade must be present in asset markets with large trading volume. [ABSTRACT FROM AUTHOR]

Published
2003
Full Text
View/download PDF

45. IPO Market Cycles: Bubbles or Sequential Learning?

Author

LOWRY, MICHELLE and SCHWERT, G. WILLIAM

Subjects
GOING public (Securities), BUSINESS cycles, INVESTMENT analysis, RATE of return, RATE of return on stocks, INFORMATION asymmetry, STATISTICAL significance, FINANCIAL markets, SECURITIES trading volume, MARKET timing
Abstract

Both IPO volume and average initial returns are highly autocorrelated. Further, more companies tend to go public following periods of high initial returns. However, we find that the level of average initial returns at the time of filing contains no information about that company’s eventual underpricing. Both the cycles in initial returns and the lead-lag relation between initial returns and IPO volume are predominantly driven by information learned during the registration period. More positive information results in higher initial returns and more companies filing IPOs soon thereafter. [ABSTRACT FROM AUTHOR]

Published
2002
Full Text
View/download PDF

46. Crossing Networks and Dealer Markets: Competition and Performance.

Author

Hendershott, Terrence and Mendelson, Haim

Subjects
FINANCIAL markets, SECURITIES trading, MARKET makers, EXTERNALITIES, SECURITIES trading volume, SPREAD (Finance), STOCK exchanges, ADVERSE selection (Commerce), MATHEMATICAL models, INFORMATION asymmetry
Abstract

This paper studies the interaction between dealer markets and a relatively new form of exchange, passive crossing networks, where buyers and sellers trade directly with one another. We find that the crossing network is characterized by both positive ("liquidity") and negative ("crowding") externalities, and we analyze the effects of its introduction on the dealer market. Traders who use the dealer market as a "market of last resort" can induce dealers to widen their spread and can lead to more efficient subsequent prices, but traders who only use the crossing network can provide a counterbalancing effect by reducing adverse selection and inventory holding costs. [ABSTRACT FROM AUTHOR]

Published
2000
Full Text
View/download PDF

47. Merging Markets.

Author

Arnold, Tom, Hersch, Philip, Mulherin, J. Harold, and Netter, Jeffry

Subjects
STOCK exchanges, MERGERS & acquisitions, FINANCIAL markets, MARKET share, SPREAD (Finance), SECURITIES trading, ORDER flow (Securities), COMPETITION, LISTING of securities, HISTORICAL analysis, SECURITIES trading volume
Abstract

We study the causes and effects of the competition for order flow by U.S. regional stock exchanges. We trace the origins of competition for order flow to a change in the role of regional exchanges from being venues for listing local securities to being more direct competitors for the order flow of NYSE listings. We study the way regionals competed for order flow, concentrating on a series of stock-exchange mergers that occurred in the midst of this transition of the regional exchanges. The merging exchanges attracted market share and experienced narrower bid-ask spreads. [ABSTRACT FROM AUTHOR]

Published
1999
Full Text
View/download PDF

48. Online search activities and investor attention on financial markets.

Author

Hong-Yi Chen and Te-Chien Lo

Subjects
INVESTORS, FINANCIAL markets, VOLATILITY (Securities), ELECTRONIC information resource searching, SECURITIES trading volume
Abstract

We investigate the online search activities regarding stock markets and their applications on forecasting trading volumes, stock turnover, and stock volatility. Following Da et al. (2011), we use the Google Search Volume Index (SVI) as a direct proxy for individual investors' attention. For Taiwan's top 50 firms, we show that online search activities are significantly correlated with stock turnover, trading volumes and stock volatility, indicating that online search activities reflect individual investors' attention and thus are associated with investors' investment behaviors. [ABSTRACT FROM AUTHOR]

Published
2019
Full Text
View/download PDF

49. Re-examining the Chinese A-share herding behaviour with a Fama-French augmented seven-factor model.

Author

Li, Chao, Hu, Zongyi, and Tang, Liwei

Subjects
FINANCIAL markets, MARKET volatility, ARBITRAGE, SECURITIES trading volume, CAPITAL assets pricing model
Abstract

In view of the contradicting results in existing research, this article proposes a new weighted cross-sectional variance (WCSV) model to re-examine the level of herding behaviour in the Chinese A-share market. Motivated by the original WCSV model, we utilize a Fama-French augmented seven-factor model as the underlying Arbitrage Pricing Theory model, which introduces the trading volume and turnover rate factors to the Fama-French five-factor model. The regression results show the superiority of our new model compared to the WCSV model based on Fama-French three- and five-factor models, which implies that the empirical findings of herding with our WCSV model are more reliable in relative terms. In the empirical aspect, in addition to testing the herding level yearly and integrally, to provide further insight on the relationship between market stress and herding, we apply our model to the Chinese A-share herding behaviour within each of three well-known crisis periods. In addition, we also split the sub-samples into pre-crisis and post-crisis periods to detect the existence of asymmetric herding behaviour for different market directions. Our findings suggest that Chinese A-share herding behaviour is more prevalent during large market turmoil, especially under condition of down market. [ABSTRACT FROM AUTHOR]

Published
2019
Full Text
View/download PDF

50. Recurrence duration statistics and time-dependent intrinsic correlation analysis of trading volumes: A study of Chinese stock indices.

Author

Niu, Hongli, Wang, Weiqing, and Zhang, Junhuan

Subjects
*SECURITIES trading volume, *STOCK exchanges, *LIQUIDITY (Economics), *FINANCIAL markets, *HILBERT-Huang transform, *MARKET volatility
Abstract

Abstract The trading volume in stock markets is known as an important variable which reflects the liquidity of the financial markets and therefore is regarded to be greatly important for the measurement of market liquidity risk. In this work, a new concept called recurrence duration is introduced for study of daily trading volumes, which is inspired by idea of the volatility duration that was proposed and studied in our previous work. The recurrence duration is thought as the shortest passing time that the following days' trading volume takes to exceed or go below the current trading volume which is time-varying. Similar to the volatility duration distribution of the price returns, the power-law function could describe the empirical probability distribution of recurrence durations of trading volumes, and their tail distributions can be fitted by two stretched exponential functions. Further, the correlation relationships of trading volumes between Chinese stock indices as well as the correlations of recurrence durations are investigated. One approach employed is a recently proposed method, time-dependent intrinsic correlation (TDIC), which is based on the empirical mode decomposition (EMD) to decompose nonlinear and nonstationary signals into the intrinsic mode functions (IMFs), the instantaneous periods of which are used then in determination of the sizes of sliding windows to compute the running correlation coefficients for the multiscale signals. The empirical results reveal rich patterns of correlations for both trading volumes and recurrence durations at different scales for different modes. Another approach is the widely-used DCCA cross-correlation coefficient, by which the level of cross-correlation is measured for both original series and IMF modes of the stock indices. Highlights • A concept called recurrence duration is introduced for study of stock trading volumes. • Prob-distributions of recurrence durations for Chinese stock indices are analyzed. • Relationships between Chinese stock indices are investigated from trading volumes and recurrence durations aspects. • The TDIC method and DCCA cross-correlation coefficient are observed a well practical application. [ABSTRACT FROM AUTHOR]

Published
2019
Full Text
View/download PDF

Catalog

Books, media, physical & digital resources
See catalog results