Business News

NDEP Drags NASD OTC Securities Exchange Down 0.24% 

The NASD Over-the-Counter (OTC) Securities Exchange remained rooted in the red zone on Thursday as Niger Delta Exploration and Production (NDEP) Plc pulled the market down by 0.24 per cent.

The company lost N13.54 or 7.0 per cent to close at N180.00 per share compared with the previous day’s closing price of N193.54 per share.

Consequently, the market capitalisation of the bourse fell by N2.44 billion to close the day at N1.007 trillion in contrast to the preceding session’s N1.009 trillion.

The day also saw the NASD Unlisted Securities Index (NSI) fall by 1.86 points to wrap up at 765.03 points compared with 766.89 points of the previous session.

The activity chart showed that 91,997 units of shares were transacted at the NASD OTC market on Thursday compared with the previous day’s 589,000 units, indicating a decline of 84.4 per cent, with the transactions carried out in 13 deals compared to the 14 deals made on Wednesday, showing a fall of 7.14 per cent.

The total value of trades yesterday stood at N5.8 million, 51.26 per cent lower than the N11.9 million realised at the previous session.

The market closed with no price advancer and AG Mortgage Bank Plc remained as the company with the highest volume of stocks traded (year-to-date) with a turnover of 2.3 billion units worth N1.2 billion, Central Securities Clearing System (CSCS) Plc was in second place with 673.9 million units worth N14.1 billion, while Food Concepts Plc held the third position with 146.0 million units worth N126.7 million.

In terms of the most traded stock by value (year-to-date), CSCS Plc was on top with the sale of 673.9 million units valued at N14.1 billion, trailed by VFD Group with 10.9 million units valued at N3.2 billion, and FrieslandCampina WAMCO Nigeria Plc with 9.6 million units valued at N1.2 billion.



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