By Adedapo Adesanya

The NASD Over-the-Counter (OTC) recorded a 0.67 per cent appreciation on Thursday, November 28, with the portfolios of investors on the platform rising by N7.09 billion to N1.061 trillion from the N1.053 trillion it closed in the preceding session and the NASD Unlisted Security Index (NSI) growing by 20.22 points to wrap the session at 3,026.60 points compared with 3,006.38 points recorded on Wednesday.

This happened after the unlisted securities market finished the trading session with three price gainers and two price losers.

Afriland Properties Plc gained N1.58 to end at N17.39 per unit compared with the midweek’s closing price of N15.81 per unit, as Acorn Petroleum Plc improved its value by 14 Kobo to close at N1.69 per share, in contrast to the previous day’s N1.55 per share, and Central Securities Clearing System (CSCS) Plc went up by N1 to sell for N23.00 per unit compared with the preceding session’s N22.00 per unit.

On the flip side, First Trust Microfinance Bank Plc lost 4 Kobo to finish at 32 Kobo per share versus Wednesday’s closing price of 36 Kobo per share and Geo-Fluids Plc slumped by 3 Kobo to sell at N3.90 per unit compared to N3.93 per unit it was sold a day earlier.

There was a 191.9 per cent rise in the volume of securities traded in the session as investors exchanged 2.9 million units compared with the previous trading day’s 1.0 million units.

Equally, there was a 283.9 per cent surge in the value of shares traded yesterday to N7.9 million from the N2.1 million recorded in the previous day, and the number of deals increased by 300 per cent to 12 deals from the three deals executed in the preceding day.

At the close of transactions, Geo-Fluids Plc was the most active stock by volume (year-to-date) with 1.7 billion units valued at N3.9 billion, trailed 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.

Aradel Holdings Plc remained the most active stock by value (year-to-date) with 108.7 million units worth N89.2 billion, followed 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.

By Dipo Olowookere

The Nigerian Exchange (NGX) Limited rebounded by 0.50 per cent on Thursday after staying with the bears for a single trading session, though investor sentiment remained weak.

Business Post reports that the market breadth index was negative yesterday with 28 appreciating stocks and 29 depreciating stocks.

Vitafoam Nigeria was the best-performing equity during the trading day after it went up by 9.81 per cent to sell for N23.50, Aradel Holdings appreciated by 9.23 per cent to N517.00, FTN Cocoa rose by 7.82 per cent to N1.93, Sovereign Trust Insurance grew by 6.25 per cent to 68 Kobo, and Oando gained 5.40 per cent to quote at N65.35.

On the flip side, Prestige Assurance ended the day as the worst-performing equity after it shed 10.00 per cent to close at 81 Kobo, Unilever Nigeria lost 9.97 per cent to settle at N26.65, Austin Laz depleted by 9.96 per cent to N2.17, John Holt waned by 9.90 per cent to N8.92, and Eterna fell by 6.94 per cent to N20.80.

During the session, the energy and the consumer goods sectors went down by 0.50 per cent and 0.11 per cent, respectively.

However, the banking index improved by 0.74 per cent, the insurance counter expanded by 0.23 per cent, and the industrial goods space increased by 0.15 per cent.

As a result, the All-Share Index (ASI) jumped by 487.24 points to 97,783.81 points from the 97,296.57 points recorded in the preceding day and the market capitalisation grew by N305 billion to settle at N59.275 trillion compared with Wednesday’s closing value of N58.970 trillion.

Yesterday, the value of transactions expanded by 4.85 per cent to N10.8 billion from the N10.3 billion recorded a day earlier, as the volume of trades shrank by 23.08 per cent to 632.7 million shares from the 822.5 million shares traded at midweek and the number of deals tumbled by 10.45 per cent to 8,404 deals from the 9,385 deals achieved in the previous day.

FBN Holdings was the busiest stock at the market on Thursday with a turnover of 166.8 million units worth N4.2 billion, Haldane McCall traded 119.3 million units valued at N669.8 million, Guinea Insurance transacted 41.3 million units for N20.7 million, Cutix sold 38.5 million units worth N90.5 million, and Access Holdings exchanged 20.6 million units valued at N473.6 million.

By Adedapo Adesanya

Oil prices surged on Thursday after Israel and Lebanese armed group Hezbollah traded accusations that their ceasefire had been violated, and as Israel tanks fired on south Lebanon.

This pushed Brent crude futures higher by 30 cents or 0.4 per cent to $73.13 per barrel as the US West Texas Intermediate (WTI) crude futures increased by 23 cents 0.3 per cent to trade at $68.93 a barrel.

However, trading was thin because of the US Thanksgiving holiday.

The market had expected that the ceasefire would cool some risk but Israel’s military said the ceasefire was violated after what it called suspects, some in vehicles, arrived at several areas in the southern zone.

The deal, which took effect on Wednesday, was intended to allow people in both countries to start returning to homes in border areas after 14 months of fighting.

Meanwhile, the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) delayed a crucial meeting for a few days, which is likely to extend production cuts.

The group pushed its next policy meeting to Thursday, December 5 from December 1 to avoid a conflict with another event.

Members were discussing a further delay to a planned oil output hike that was due to start in January, to help prop up prices.

It will also be the last meeting that the 22-member group will hold before Donald Trump will assume office as the next US President in January.

There are expectations of potential risk to Iran’s supply from sanctions that might be implemented under the Trump administration.

The group pumps about half the world’s oil but has maintained production cuts to support prices. It hopes to unwind those cuts, but weak global demand has forced it to delay the start of gradual increases.

Slowing fuel demand growth in top consumers the US and China has weighed heavily on oil prices this year, although supply curtailments from OPEC+ have helped to limit the losses.

This was seen as US petrol stocks rose 3.3 million barrels in the week ended on November 22, the US Energy Information Administration (EIA) said on Wednesday.