NASD, CSCS Lift Unlisted Securities Market by 1.01%

Image

By Adedapo Adesanya

NASD Plc and Central Securities Clearing Systems (CSCS) Plc championed the return of the NASD Over-the-Counter (OTC) Securities Exchange into the bullish territory after two straight sessions in red with a growth of 1.01 per cent on Thursday, October 28.

The duo lifted the total value of stocks at the unlisted securities market yesterday by N6.16 million to N614.67 billion from N608.51 billion and increased the NASD Unlisted Security Index (NSI) by 7.46 points to 743.99 points from Wednesday’s 736.53 points.

At the session, the share price of NASD Plc grew by N1.27 or 7.3 per cent to settle at N17.50 per unit as against the preceding day’s N16.23 per unit, while the value of CSCS Plc rose by N1.20 or 6.7 per cent to sell at N17.90 per share compared to N16.70 per unit it traded a day earlier.

Just as there were two price gainers, there were also two price losers led by Niger Delta Exploration and Production (NDEP) Plc, which fell by N1.98 or 0.87 per cent to close at N226.51 per unit in contrast to N228.49 per unit it finished on Wednesday, while Afriland Property Plc went down by 3 kobo or 2.63 per cent to end at N1.11 per share versus N1.14 per share it traded at the midweek session.

Yesterday, the volume of securities traded at the bourse decreased by 54.1 per cent as investors exchanged 116,046 units of securities compared with the 252,778 units of securities transacted at the preceding session.

However, the value of shares traded by investors increased by 86.8 per cent to N8.3 million from N4.4 million, while the number of deals appreciated by 10.0 per cent to 11 deals from 10 deals.

Food Concepts Plc remained as the most traded stock by volume on a year-to-date basis with 11.4 billion units worth N14.4 billion, trailed by Lighthouse Financial Services Plc with 1.1 billion units valued at N546.1 million, and Geo Fluids Plc with 1.0 billion units worth N700.1 million.

By value, Food Concepts Plc also topped the chart with 11.4 billion units traded for N14.4 billion, followed by Nigerian Exchange (NGX) Group Plc with 456.5 million units worth N9.2 billion, and VFD Group Plc with 10.4 million units valued at N3.5 billion.

Share
Related Stories
Image
18-March-2024

Court Orders Binance to Give EFCC Access to Nigerians’ Trading Data

By Adedapo Adesanya A Federal High Court in Abuja has ordered Binance Holdings Limited to provide the Economic and Financial Crimes Commission (EFCC) with the comprehensive data or information of all persons from Nigeria trading on its platform. Justice Emeka Nwite granted the interim order after ruling on the ex-parte motion moved by the EFCC’s lawyer, Mr Ekele Iheanacho, on Monday. “The applicant’s application dated and filed on February 29, 2024, is hereby granted as prayed,” the court held today. It also held, “That an order of this court is hereby made directing the operators of Binance to provide the

Image
18-March-2024

NASD Exchange Loses 4.4% in 11th Trading Week of 2024

By Adedapo Adesanya The 11th trading week of 2024 at the NASD Over-the-Counter (OTC) Securities Exchange ended on a bad note after a week-on-week loss of 4.4 per cent, the third consecutive week. Recall that the first eight trading weeks of the year were bullish at the alternative stock market, but things turned the other direction from Week 9 and have remained so, reducing the market capitalisation of the bourse by N65 billion to N1.404 trillion from the N1.469 trillion it closed in Week 10. In the same vein, the NASD Unlisted Security Index (NSI) went down by 105.96 points

Image
19-March-2024

Naira Trades N1,597/$1 at Official Market, N1,600/$1 at Black Market

By Adedapo Adesanya The Naira appreciated against the US Dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM) segment of the currency market on Monday by 0.3 per cent or N5.41 to close at N1,597.34/$1 compared with last Friday’s value of N1,602.75/$1. It also improved its value against the Pound Sterling in the official market yesterday by N50.97 to wrap the session at N2,003/£1 compared with the preceding session’s N2,054.06/£1 and gained N41.89 against the Euro to close at N1,712.69/€1 versus N1,754.58/€1. It was observed that the supply of forex, according to data from the FMDQ Securities Exchange, slightly waned

More Stories
Image
19-May-2017

Osinbajo Receives 2017 Budget from National Assembly

By Dipo Olowookere The 2017 appropriation bill recently passed by the National Assembly has been handed over to the Acting President, Mr Yemi Osinbajo. This was confirmed on Friday by his spokesman, Mr Laolu Akande. With this development, the President will review the submitted 2017 budget and then sign it into law. Mr Akande posted on his Twitter account on Friday that the, “2017 Budget, Appropriations bill, now officially received in the Acting President’s office and undergoing very prompt and diligent consideration.” In the past few days, there had been debates on who will assent to the 2017 appropriation bill;

Image
26-July-2017

Osinbajo Swears in Two New Ministers

By Modupe Gbadeyanka Acting President, Mr Yemi Osinbajo, on Wednesday, July 26, 2017, sworn in two new Ministers in Abuja. At the brief ceremony held at the Presidential Villa, the Acting President charged the two new Ministers to see the position as a call to service. The two new Ministers are Stephen Ocheni from Kogi State and Suleiman Hassan from Gombe State. The swearing in ceremony was performed during the Federal Executive Council (FEC) meeting today at the Council Chamber of the State House. Mr Ocheni was appointed to replace Mr James Ocholi, the Minister of State for Labour and

Image
17-October-2017

We’ll Reduce Borrowing if Tax to GDP Hits 10%—Adeosun

By Dipo Olowookere Nigeria’s Minister of Finance, Mrs Kemi Adeosun, has disclosed that Nigeria will reduce the rate at which it borrows money for developmental projects only if the tax to gross domestic product (GDP) hits 10 percent. According to the Minister, the country’s tax to GDP ratio is at 6 percent. Mrs Adeosun, while addressing newsmen, noted that with the tax to GDP ratio at 10 percent, the economy will flourish and consequently bring down the interest rate, which is presently in double digits. The Minister informed newsmen that if the strategy of this present administration of President Muhammadu

Image
20-February-2024

CSCS Spurs NASD OTC Bourse to 0.48% Appreciation

By Adedapo Adesanya An appreciation in the stock price of the Central Securities Clearing System (CSCS) Plc lifted the NASD Over-the-Counter (OTC) Securities Exchange by 0.48 per cent on Monday, February 19. This added N7.5 billion to the market capitalisation of the bourse at the close of transactions, growing to N1.568 trillion from the N1.56 trillion it closed in the preceding trading session. Similarly, it increased the NASD Unlisted Security Index (NSI) by 5.53 points to end the day at 1,156.79 points as against 1,151.26 points it recorded at the previous session. The sole gainer, CSCS Plc, recorded a N1.50

Image
19-November-2016

Fitch Ratings Demotes Nigerian Banks

By Modupe Gbadeyanka The Support Rating Floors (SRF) of 10 Nigerian banks has been reviewed down by Fitch Ratings to ‘no floor’. Also, nine banks’ Support Ratings (SR) has been downgraded to ‘5’ following a reassessment of potential sovereign support for the banking sector. As a consequence, the long-term issuer default ratings of First Bank of Nigeria Limited, FBN Holdings Plc, Diamond Bank Plc, Fidelity Bank Plc, First City Monument Bank Limited and Union Bank of Nigeria Plc are downgraded to ‘B-‘ from ‘B’, in line with their stand-alone creditworthiness as defined by their viability ratings, Channels TV reports. Meanwhile,

Image
11-November-2020

Coalition Condemns Rising Attacks on Human Rights Activists

By Adedapo Adesanya The coalition of 32 Civil Society Organisations (CSOs) working to promote democracy and human rights has expressed grave concerns over the rise in the level of attacks targeted at human rights activists in the country. The groups include: Centre for Democracy and Development (CDD), Enough is Enough (EIE) Nigeria; Partners for Electoral Reform; and the Civil Society Legislative Advocacy Centre (CISLAC). Others are Resource Centre for Human Rights and Civic Education (CHRICED); Centre for Information, Technology and Development (CITAD); Yiaga Africa; and Global Rights Project Alert among others. The group in a statement on Wednesday in Abuja

Image
16-September-2016

Navy Nabs Notorious Militant Leader In Calabar

By Ebitonye Akpodigha One Uduak Etim Thompson, leader of a notorious militant group called Bakasi Strike Force in Calabar, Cross River State, has been apprehended by the Nigerian Navy. The Nigerian Navy disclosed in a statement that Mr Thompson was arrested on Wednesday night along with other Niger Delta criminals. Among crimes said to be perpetrated by the militants are attack on market women and other traders, siphoning of crude oil and destruction of pipelines. A statement signed by Commodore Christian Ezekobe, Director of Navy Public Relations said, “As part of efforts to eliminate unwholesome activities perpetuated by criminals in

Image
22-August-2022

NDLEA Intercepts 2.3 million Opioids in Abuja, Others

By Adedapo Adesanya The National Drug Law Enforcement Agency (NDLEA) has intercepted over 2.3 million tablets of illicit drugs known as opioids and other psychoactive substances meant for distribution in seven northern states. NDLEA spokesman, Mr Femi Babafemi, disclosed this in a statement on Sunday, identifying the states as Borno, Kano, Kaduna, Sokoto, Zamfara, Gombe, and Nasarawa. He said the hard drugs were seized from locations across Kaduna, Kogi, Sokoto, and the FCT in a series of interdiction operations in the past week. In Kaduna, a suspected drug dealer identified as Mr Umar Sanusi was arrested on August 12, during

Ad
Ad
Recent Stories
Image
19-March-2024

Naira Trades N1,597/$1 at Official Market, N1,600/$1 at Black Market

By Adedapo Adesanya The Naira appreciated against the US Dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM) segment of the currency market on Monday by 0.3 per cent or N5.41 to close at N1,597.34/$1 compared with last Friday’s value of N1,602.75/$1. It also improved its value against the Pound Sterling in the official market yesterday by N50.97 to wrap the session at N2,003/£1 compared with the preceding session’s N2,054.06/£1 and gained N41.89 against the Euro to close at N1,712.69/€1 versus N1,754.58/€1. It was observed that the supply of forex, according to data from the FMDQ Securities Exchange, slightly waned

Image
19-March-2024

Brent Jumps to $86 Per Barrel on Low Crude Exports, Stronger Demand

By Adedapo Adesanya  The price of the international crude benchmark, Brent Crude, rose by 88 cents or 1.0 per cent to $86.22 per barrel on Monday, triggered by lower crude exports from Iraq and Saudi Arabia and signs of stronger demand and economic growth in China and the US. Also, the US West Texas Intermediate (WTI) crude appreciated by $1.01 or 1.3 per cent to $82.05 per barrel, as Iraq, the second-largest producer in the Organisation of the Petroleum Exporting Countries (OPEC), said it would reduce crude exports to 3.3 million barrels a day in the coming months to compensate

Image
18-March-2024

Cardoso Begins CBN Clean-up, Removes Directors Close to Emefiele

By Aduragbemi Omiyale There are strong indications that some directors at the Central Bank of Nigeria (CBN) may have to lose their jobs in the in-house clean-up exercise by the Governor, Mr Yemi Cardoso. Reports suggest that Mr Cardoso wants to let go of some directors who worked closely with Mr Godwin Emefiele, who President Bola Tinubu believes worked to stop him from going to Aso Rock. Recall that during his electioneering campaign, Mr Tinubu accused the former CBN chief and some persons of introducing the botched Naira redesign policy to frustrate him. Immediately after he assumed office on May

Image
18-March-2024

Profit-Taking Depletes Nigerian Exchange by 0.40%

By Dipo Olowookere The Nigerian Exchange (NGX) Limited succumbed to profit-taking on Monday, shedding 0.40 per cent despite a bullish investor sentiment. The local bourse ended with 27 price gainers and 18 price losers today, implying a positive market breadth index. The selling pressure was just investors booking profit after gains in the past few trading sessions, especially in MTN Nigeria, GTCO, Zenith Bank and others. The heaviest price depreciation was recorded by McNichols, 9.30 per cent, closing at N1.17, and was trailed by DAAR Communications, which shed 8.97 per cent to 71 Kobo. UPDC declined by 7.89 per cent

Image
18-March-2024

NCC Announces 90% Restoration of Voice, Data Services After Cable Cuts

By Adedapo Adesanya The Nigerian Communication Commission (NCC) has announced that voice and data services affected by undersea cable cuts last week have been 90 per cent restored. In a series of tweets signed by Mr Reuben Muoka, the Director of Public Affairs at the commission on Monday, March 18, the NCC said, “Following the disruption on March 14, 2024, which affected data and voice services due to cuts in undersea fibre optics along the coasts of Cote d’Ivoire and Senegal, we are pleased to announce that services have now been restored to approximately 90% of their peak utilization capacities.”

Image
18-March-2024

Unity Bank, SkillPaddy to Train Female Software Engineers

By Modupe Gbadeyanka At least 1,000 female software engineers will undergo a training programme organised by SkillPaddy through its Count Her In tech programme with support from Unity Bank Plc. The IT skill development and empowerment initiative is intended to bridge talent supply gaps while providing individuals with the opportunity to meet their training goals and launch careers in the tech industry. It was disclosed that about 40 young girls will receive full sponsorship from Unity Bank in the special training initiative which was conceived as part of activities to commemorate this year’s International Women’s Day 2024. All beneficiaries of

Image
18-March-2024

Your Moods Soundtracked With Spotify’s New Daylist Feature

Throughout the day, your mood changes, and so does the music you listen to. Last night might have been an island vibes riddim Monday night, while this moment is more of a nostalgic 2010s Tuesday afternoon. The point is, that you’re ever-changing, and your playlists should be too. Say hello to daylist, your day in a playlist. This new, one-of-a-kind playlist on Spotify ebbs and flows with unique vibes, bringing together the niche music you typically listen to during particular moments in the day or on specific days of the week. It updates frequently between sunrise and sunset with a

Image
18-March-2024

Stanbic IBTC Adopts Mala Kachallah Model School, Three Others

By Modupe Gbadeyanka Mala Kachallah Model School in Maiduguri, Borno State; Methodist School Mbiafun Nkwono Ikono, Akwa Ibom State; Aramoko District School, Aramoko Ekiti State; and Magin Rafi Model Primary School Tudun Wada, Sokoto State have been adopted by Stanbic IBTC Holdings Plc. The leading financial services provider in Nigeria revamped these citadels of learning under its Adopt-a-School programme structured on the company’s Social, Environmental, and Economic (SEE) framework, which aligns with its mission to be a responsible corporate citizen. It was learned that Stanbic IBTC renovated and rebuilt classroom blocks, provided modern and conducive learning environments, furnished classrooms, established

Image
18-March-2024

Nigeria’s Data Regulator Investigates Alleged NIMC Breach

By Adedapo Adesanya The Nigeria Data Protection Commission (NDPC) is investigating allegations of unauthorised access to the personal data of enrollees in the database of the National Identity Management Commission (NIMC). This was disclosed by Mr Vincent Olatunji, the National Commissioner of the data regulation body in a statement signed by Head of Legal, Enforcement and Regulations, NPDC, Mr Babatunde Bamigboye on Monday. He said the investigation is a further regulatory measure to be taken by the commission in the wake of public concerns over reports of illegal access, to the personal data of enrollees by a shadowy entity called

Image
18-March-2024

Russia Validates Partnership with Republic of Congo

By Kestér Kenn Klomegâh Over the years, Russia and the Republic of Congo have had good bilateral relations and, undoubtedly, there are still prospects for strengthening these relations, especially in the economy and security spheres as underlined during the meeting between Vladimir Putin and Denis Sassou-Nguesso in the Kremlin. “Our countries have always had friendly relations that have been developing this way for 55 years now. Our trade is growing – by over 60 per cent – although, unfortunately, the numbers in absolute terms are still modest. But, we have good potential in several industries, such as energy, the processing