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NASD Unlisted Securities Index Drops 2.05%

By Modupe Gbadeyanka

Last week, the NASD OTC Market ended on a negative note with the market metrics depreciating by 2.05 percent week-on-week.

Specifically, the Unlisted Securities Index (USI) went down to 698.16 points from 712.76 points in the previous week, while the total market capitalization depreciated to N472.47 billion from N482.35 billion.

During the week, Niger Delta Exploration & Production PLC emerged the highest price gainer, closing at N170 per share against N151.71 per share it previously closed, indicating a 12.06 percent appreciation.

But on the flip side, Mass Telecom Innovations Plc declined by 10 percent to settle at 45 kobo per share against 50 kobo per share it ended a week earlier.

This was followed by Cappa D’ Alberto Plc, while lost 8.63 percent of its value to finish at N34 per share compared with N37.21 per share it ended earlier.

In addition, Frieslad Campina Wamco Nigeria Plc fell by 7.90 percent to end at N142.27 per share in contrast to N154.48 per share it traded a week ago, while Central Securities Clearing System (CSCS) Plc decreased by 0.61 percent to settle at N13.08 per share versus N13.16 per share it closed previously.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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