Economy

NASD Index Drops Further to 688.32 Points

Published

5 years ago

13/05/2020

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange further depreciated by 0.84 percent on Tuesday, May 12, 2020, the second straight session the market was recording losses.

Data from the exchange showed that the benchmark index of the unlisted securities market, NASD Unlisted Security Index (NSI), decreased by 5.86 points to end the day at 688.32 points from 694.18 points recorded at the previous session.

In the same vein, the market capitalisation shed N4.3 billion to close at N505.62 billion in contrast to N509.92 billion it quoted on Monday.

However, despite the loss recorded at the market yesterday, none of the 39 trading companies on the NASD Exchange recorded a change in their share prices.

On the activity chart, things were in red as the total volume of securities traded by investors on Tuesday depreciated by 46 percent to 9,240 units from 17,250 units of securities traded on Monday.

These transactions came from the four deals executed during the session at the exchange and they all belonged to FrieslandCampina WAMCO Nigeria Plc. At the previous day, the number of deals carried out by the market were eight, representing a decline by 50 percent.

Business Post reports that all the shares of the milk producer amounted to N997,920. This value of transaction was lower than the N2.9 million realised at the previous session by 66 percent.

ARM Life Plc closed the session as the company with the highest number of shares traded (year-to-date) with 7.4 billion units worth N4.6 billion. It was followed by Food Concept Plc, which has transacted 110.0 million units of its stocks worth N77 million, and Lighthouse Financial Service Plc, which has exchanged 48 million units of its shares valued at N24 million.

In terms of the most traded stock by value (year-to-date), ARM Life Plc also topped the chart with 7.4 billion units of its shares worth N4.6 billion. Niger Delta Exploration Production (NDEP) Plc followed with 6.8 million units exchanged for N2.1 billion, while FrieslandCampina WAMCO Nigeria Plc was in third place with 2.4 million units of its securities valued at N292.5 million.

Economy

Food Concepts, Acorn Petroleum Weaken Alternative Stock Market by 0.33%

Published

11 hours ago

30/11/2024

Adedapo Adesanya

By Adedapo Adesanya

Food Concepts Plc and Acorn Petroleum Plc were the catalysts that brought down the NASD Over-the-Counter (OTC) Securities Exchange by 0.33 per cent on Friday, November 29.

The NASD Unlisted Security Index (NSI) dropped 9.94 points to wrap the session at 3,016.66 points compared with 3,026.60 points recorded in the previous session, and the OTC market capitalisation lost N3.48 billion to settle at N1.057 trillion, in contrast to the previous day’s N1.060 trillion.

Food Concepts, which is the parent company of fast food chains – Chicken Republic and PieXpress, lost 17 Kobo to settle at N1.58 per share versus the previous session’s N1.75 per share, and Acorn Petroleum Plc recorded a 15 Kobo depreciation to quote at N1.54 per unit, in contrast to Thursday’s closing rate of N1.69 per unit.

On the flip side, Okitipupa Plc improved its value by N2.23 to trade at N24.58 per share compared with the preceding day’s N22.35 per share, and Geo-Fluids Plc appreciated by 5 Kobo to close at N3.95 per unit, in contrast to Thursday’s closing price of N3.90 per unit.

There was a decline in the volume of securities traded by investors by 85.3 per cent to 433,854 units from the 2.9 million units recorded a day earlier, the value of shares recorded during the session slid by 88.9 per cent to N876,364.63 from N7.9 million, and the number of deals increased by 25 per cent to 15 deals from the 12 deals posted a day earlier.

Geo-Fluids Plc remained the most active stock by volume (year-to-date) with 1.7 billion units valued at N3.9 billion, followed by Okitipupa Plc with 752.2 million units sold for N7.8 billion, and Afriland Properties Plc with 297.3 million units worth N5.3 million.

Also, Aradel Holdings Plc remained the most active stock by value (year-to-date) with 108.7 million units worth N89.2 billion, trailed by Okitipupa Plc with 752.2 million units valued at N7.8 billion, and Afriland Properties Plc with 297.3 million units sold for N5.3 billion.

Economy

Naira Falls to N1,672/$1 Ahead of CBN FX Matching System Launch

Published

12 hours ago

30/11/2024

Adedapo Adesanya

By Adedapo Adesanya

The Naira depreciated against the US Dollar by 1.7 per cent or N27.83 in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Friday, November 29 as supply weakened ahead of the official unveiling of the Electronic Foreign Exchange Matching System (EFEMS) by the Central Bank of Nigeria (CBN) next week.

The exchange rate of the Naira to the Dollar in the official market ended yesterday at N1,672.69/$1, in contrast to the N1,644.86/$1 it closed on Thursday.

Data from the FMDQ Securities Exchange showed that the value of forex transactions went down by 56.7 per cent or $306.24 million to $254.10 million from the $560.34 million achieved the previous day.

However, the local currency appreciated against the Pound Sterling in the spot market during the trading session by N13.38 to settle at N2,111.48/£1 compared with the preceding day’s N2,124.86/£1 and against the Euro, it gained N15.61 to finish at N1,757.57/€1 versus Thursday’s closing price of N1,773.18/€1.

The CBN EFEMS initiative designed to ensure transparent, fair, and efficient FX trading, minimise counterparty risks, and enforce compliance with CBN regulations will go live on Monday, December 2.

The apex bank has pegged the minimum tradable amount at $100,000, with incremental clip sizes of $50,000 to promote transparency and efficiency in the FX market.

In the parallel market, the Nigerian currency appreciated against the US Dollar yesterday by N15 to settle at N1,735/$1 compared with Thursday’s closing price of N1,750/$1.

In the cryptocurrency market, Ripple (XRP) surged by 18.9 per cent the past 24 hours to finish at $1.92, extending a month-long run that has seen the price rise 200 per cent to make the token the best-performing major token alongside Dogecoin (DOGE).

Further, Litecoin (LTC) added 6.6 per cent to close at $101.96, Cardano (ADA) rose by 5.9 per cent to $1.13, Dogecoin (DOGE) grew by 5.4 per cent to $0.4265, Ethereum (ETH) jumped by 4.2 per cent to sell at $3,697.06, Binance Coin (BNB) went up by 3.7 per cent to trade at $674.85, Solana (SOL) gained 1.9 per cent to settle at $244.08, and Bitcoin (BTC) expanded by 0.9 per cent to $96,811.57, while the US Dollar Tether (USDT) fell by 0.03 per cent to $0.9999, and the US Dollar Coin (USDC) closed flat at $1.00.

Economy

Nigerian Stocks Fall 0.28% as Investor Sentiment Turns Bearish

Published

13 hours ago

30/11/2024

Dipo Olowookere

By Dipo Olowookere

A 0.28 per cent loss was suffered by the Nigerian Exchange (NGX) Limited on Friday to reverse the growth achieved in the preceding session.

This was caused by profit-taking, especially in the energy sector, as its index weakened by 2.56 per cent, and the insurance counter depreciated by 1.83 per cent, while the industrial goods space slumped by 0.15 per cent.

However, the banking sector appreciated by 0.67 per cent, and the consumer goods counter improved by a marginal 0.01 per cent.

At the close of transactions, the All-Share Index (ASI) decreased by 276.94 points to settle at 97,506.87 points compared with the preceding day’s 97,783.81 points and the market capitalisation declined by N168 billion to finish at N59.107 trillion versus Thursday’s N59.275 trillion.

Regency Alliance lost 9.80 per cent to trade at 46 Kobo, Lasaco Assurance fell by 9.75 per cent to N2.13, Academy Press waned by 9.71 per cent to N2.79, Austin Laz declined by 9.68 per cent to N1.96, and Cornerstone Insurance depleted by 6.91 per cent to N2.56.

Conversely, Haldane McCall gained 9.54 per cent to quote at N6.20, Royal Exchange jumped by 8.77 per cent to 62 Kobo, Sovereign Trust Insurance improved by 7.35 per cent to 73 Kobo, Tantalizers rose by 5.50 per cent to N1.15, and NPF Microfinance Bank appreciated by 4.67 per cent to N1.57.

Business Post reports that FBN Holdings ended the session as the most active stock with 126.0 million units valued at N3.3 billion, Haldane McCall transacted 91.3 million units worth N521.8 million, Japaul sold 61.4 million units for N138.9 million, Tantalizers exchanged 35.7 million units valued at N40.5 million, and Sterling Holdings traded 23.8 million worth N114.5 million.

When trading activities closed for the session, the market participants bought and sold 515.5 million units of Nigerian stocks worth N15.1 billion in 7,554 deals compared with the 632.7 million units valued at N10.8 billion traded on Thursday in 8,404 deals, implying a rise in the trading value by 39.82 per cent and a decline in the trading volume and number of deals by 18.52 per cent and 10.11 per cent, respectively.