NASD Benchmark Index Slides 0.35% to 722.87 Points

February 3, 2021
NASD Unlisted Securities Index

By Adedapo Adesanya

It was an unfavourable day at the NASD Over-the-Counter (OTC) Securities Exchange on Tuesday, February 2 as its benchmark index went down by 0.35 per cent to close at 722.87 points as against the previous 725.39 points.

The day’s decline was caused by a 3.0 per cent or N10 drop in the price of Niger Delta Exploration and Production (NDEP) Plc stocks during the session. The oil investment company closed at N320 per share compared to N330 per share it previously closed.

The decline impacted the market capitalisation of the bourse yesterday as it went down by N2.52 billion or 0.35 per cent to N518.67 billion from N520.48 billion.

Apart from NDEP, there was no other company with movement in its value on Tuesday.

On the activity chart, there was a 15.5 per cent decrease in the trading volume yesterday as investors transacted 14,486 securities in contrast to 17,150 securities traded on Monday.

However, there was a jump in the trading value by 1,338.7 per cent as transactions worth N3.4 million were executed compared with the previous day’s N235,290.

In addition, a total of six deals were carried out on Tuesday compared with the two deals recorded during the last session, signifying an increase by 200 per cent.

These deals were distributed across three securities on the exchange with NDEP Plc leading with three deals while Central Securities Clearing Systems (CSCS) Plc recorded two deals, as Afriland Plc made a single deal.

UBN Property Plc finished the session as the company with the highest volume of traded shares on a year-to-date basis with 15.1 million units of its shares worth N16.3 million exchanged at the bourse. FrieslandCampina WAMCO Nigeria Plc was in second place with 1.8 million units worth N222.2 million, while CSCS held the third position with 1.4 million units of its shares worth N22.3 million.

But the company with the highest value of traded stocks on a year-to-date basis as at yesterday was FrieslandCampina, which has transacted 1.8 million units valued at N222.2 million. This was followed by NDEP, which has exchanged 269,146 units of its securities valued at N96.9 million, and CSCS Plc with 1.4 million units valued at N22.3 million.

Adedapo Adesanya

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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