NASD Exchange Closes Flat as Activity Level Rises Tuesday

Image

Picture Credit: NASD Twitter

By Adedapo Adesanya

NASD Over the Counter (OTC) Securities Exchange closed on Tuesday, October 15, 2019 with both the NASD Security Index (NSI) and market capitalization remaining flat.

This means that market capitalization saw no movement as it remained unchanged N512.37 billion on Tuesday from what was recorded last Friday and after Monday’s transactions. Also, the NASD Security Index (NSI) remained flat as it neither appreciated nor depreciated from percentage points that was previously quoted at 713.17 points.

Notwithstanding this, the activity level, which measures the total volume and value of trades alongside number of deals executed rose at the second day of the week trading session.

Business Post reports that the total volume of shares transacted rose by 1,915 percent or 162, 990 units from 8,510 units transacted on Monday to 171,500 units at Tuesday’s session.

Also, the total value of trades transacted rose, this time by 2,951 percent to N35.02 million from N1.15 million recorded on Monday, showing a difference of 33.87 million.

Similarly, the total number of deals executed by investors at the market significantly increased by 400 percent or eight to 10 deals on Tuesday from two deals on Monday.

There were no price gainers or losers at yesterday’s trading session.

Central Securities Clearing System (CSCS) Plc still retained top position in terms of value by year-to-date with 202,272,698 units worth N2.53 billion transacted from the beginning of this year till date, with UBN Properties following on the list with 884,529,600 units of its stocks sold for N1.2 billion.

While Food Concept Plc retained the top spot on the top trades position by volume (year to date) with a total transaction of 1,158,797,004 units valued at N843.97 billion, while UBN Properties followed with 891,085,220 units worth N1.21 billion.

As investors prepare for the mid-week’s trading session, they would be expecting things to change for the better at the trading platform for unlisted securities in Nigeria.

Share
Related Stories
Image
01-March-2024

Lokpobiri Charges New NCDMB Council on Growth of Nigeria’s Energy Sector

By Adedapo Adesanya  The Minister of State for Petroleum Resources (Oil), Mr Heineken Lokpobiri, has charged the newly inaugurated fourth Governing Council of the Nigerian Content Development and Monitoring Board (NCDMB) to continue advancing the country’s oil and gas industry. The NCDMB Governing Council is set up under the Nigerian Oil and Gas Industry Content Development (NOGICD) Act and draws membership from representatives of select institutions connected with the energy sector. The fourth NCDMB Governing Council would be chaired by Mr Lokpobiri, while the Executive Secretary of NCDMB, Mr Felix Omatsola Ogbe, would serve as the Secretary. Others are the

Image
29-February-2024

Nigeria Needs Policies that Prioritize Economic Recovery—Peter Obi

By Adedapo Adesanya The presidential candidate of the Labour Party in the 2023 general elections, Mr Peter Obi, has raised concerns over the recent decision of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) to increase the Monetary Policy Rate (MPR) to 22.5 per cent and the Cash Reserve Ratio (CRR) to 45 per cent. Mr Obi warned that this move is likely to worsen the ongoing economic challenges faced by many Nigerian households, and emphasized the need for policies that prioritize economic recovery. In a statement issued via X (formerly Twitter), the businessman and former

Image
29-February-2024

EnjoyCorp Buys Heineken’s Stake in Champion Breweries

By Adedapo Adesanya EnjoyCorp Limited, a holding company established for food, beverage and hospitality brands, has reached an agreement with Heineken B.V., to acquire its entire shareholding in The Raysun Nigeria Company Limited. The firm holds an 86.5 per cent stake in Champion Breweries Plc, a leading regional brewer listed on the Nigerian Exchange (NGX) Limited. The proposed transaction is subject to obtaining requisite regulatory approvals and the parties expect to close the transaction in the second quarter of this year (Q2 2024). EnjoyCorp intends to keep Champion Breweries Plc listed on the NGX. Heineken will continue to support Champion

More Stories
Image
02-November-2021

Red Circle Digital Agency to Empower Lagos Youths with Learnr

By Adedapo Adesanya Fast-rising digital agency, Red Circle, has announced its latest initiative LEARNR which aims at empowering over 50 teenagers and young adults. In an exclusive interview with the CEO and founder of Red Circle Digital Agency, Mr Emmanuel Dairo, he informed Business Post on the need for today’s youths to be empowered in other to survive in not just this economy but also in our present digital world. He said, “Being a youth is quite hard in Nigeria, and I can testify that the only way to make it in a system like this, is to have something

Image
11-November-2016

DMO Picks Banks For FG’s $1b Eurobond Sale

By Modupe Gbadeyanka Some unnamed banks have been shortlisted by the Debt Management Office (DMO) to manage the proposed plan by the Federal Government to sell $1 billion Eurobond before the end of 2016. Reuters reports that a senior official, who begged for anonymity, however disclosed that the FG was yet to make a final decision on this. “The names have been picked but it has to go through government process,” he told Reuters. “The issue will happen this year” though no bank has been appointed yet to arrange the issue. But already, according to Reuters, the list has been

Image
08-May-2020

Supreme Court Judgement on Orji Kalu Unfortunate—EFCC

By Modupe Gbadeyanka The Economic and Financial Crimes Commission (EFCC) has described the judgement of the Supreme Court which overruled the conviction of former Governor of Abia State, Mr Orji Kalu, as “quite unfortunate.” On Friday, May 8, 2020, the apex court held that Justice Mohammed Idris, who convicted the Senator, lacked the power to sentence him. The former Governor was sent to the correctional centre for an alleged N7.65billion fraud perpetuated when he was Governor of Abia State between 1999 and 2007. He was convicted alongside his company, Slok Nigeria Limited and former Abia State director of finance, Mr

Image
15-March-2022

Oil Prices Fall 5% Amid Fresh COVID-19 Outbreak in China

By Adedapo Adesanya Crude oil prices slid more than 5 per cent as new COVID-19 lockdowns emerged in China amid talks between Russia and Ukraine. The global benchmark crude, Brent crude, lost 5.84 per cent or $6.58 to sell at $106.10 per barrel, while the US West Texas Intermediate (WTI) went down by 6.56 per cent or $7.17 to trade at $102.20 per barrel. Russia and Ukraine were slated to resume peace talks after the former invaded the latter, prompting fears that supply would be disrupted in what was already a tight market. Russian and Ukrainian delegations held the fourth

Image
06-October-2022

Nigeria Re-elected to ITU Council Seat Till 2026

By Adedapo Adesanya Nigeria has been re-elected as a council member of the International Telecommunication Union (ITU) until 2026, the United Nation’s specialised agency that oversees global telecommunication operations. As a result, Nigeria will serve on the council again from 2022-2026. Nigeria became a member of the union on November 4, 1961. The Nigerian delegation was led to the global event by the Minister of Communications and Digital Economy, Mr Isa Ali Pantami. Other members of the delegation included the Chairman of the board of Commissioners of the Nigerian Communications Commission (NCC), Mr Adeolu Akande; and the Executive Vice Chairman/Chief

Image
09-October-2020

Ehingbeti Summit 2020 Targets 100,000 Participants

By Adedapo Adesanya The Lagos State Government has said the economic summit, Ehingbeti 2020, which is scheduled to hold from November 10 through 12, is targeting 100,000 participants. This plan was made known by the Commissioner for Economic Planning and Budget, Mr Sam Egube, who is also the co-chair of the event at a stakeholders’ conference and logo presentation in Lagos on Thursday. The summit, organised by the Lagos Economic Summit Group (LESG), is expected to provide a robust platform for deliberations on pragmatic optimisation of the inherent opportunities in Africa’s fifth-largest economy. It is also expected to offer perspectives

Image
01-July-2020

Brent Sells at $41 on Demand, Oil Glut Worries

By Adedapo Adesanya Fears by investors that the rising COVID-19 cases could affect the demand for crude oil at the global market put the prices of the commodity under pressure on Tuesday. Also, traders worried about a possible rise in the supply of crude oil to the market as Libya prepares to begin production in full after slowing down output since the start of the year. Yesterday, the Brent, which is the international crude benchmark, dropped 56 cents or 1.34 percent to trade at $41.15 per barrel, while the US West Texas Intermediate crude lost 35 cents or 0.88 percent

Image
14-September-2020

CcHub Launches Music-Tech Innovation Challenge 2020

By Adedapo Adesanya Nigerian innovation centre, Co-Creation Hub (CcHub), has partnered MusicTechSpace to launch the Music-Tech Innovation Challenge 2020, which will provide winning solutions with access to incubation and the possibility of funding. Launched in 2019 by alternative music superstar, Bez Idakula, MusicTechSpace is an innovation and community platform focused on the intersection of music and technology. It aims to find, identify and develop innovative solutions across four critical opportunity areas in the Nigerian music industry, namely – legal advisory for artists, digitisation of label operations, artist management, and event management. The Music-Tech Innovation Challenge 2020 was launched in conjunction

Ad
Ad
Recent Stories
Image
02-March-2024

JUST IN: Nollywood Star Mr Ibu Dies

By Modupe Gbadeyanka Information just reaching Business Post indicates that popular Nigerian actor, Mr John Okafor, otherwise known as Mr Ibu, is dead. It was gathered that the Nollywood star breathed his last on Saturday in a hospital in Lagos. His demise comes a day after the Nigeria film industry lost an actor, Mr Tolani Quadri Oyebamiji, well-known as Sisi Quadri. Mr Ibu underwent a surgery, which led to the amputation of one of his legs. He was later discharged from the hospital, but was reportedly taken back. Until his death, he acted in several movies. He was well known

Image
02-March-2024

African Bishops Seek Overhaul of Financial System as Debt Burden Worsens

African Catholic Bishops called for an overhaul of the financial system to address health, climate, food and other challenges the region faces. Ahead of a gathering of African Finance Ministers in Victoria Falls, Zimbabwe, the Justice, Peace and Development Commission of the Catholic Symposium of Episcopal Conferences of Africa and Madagascar (SECAM) outlined reforms for debt relief, development resources and governance. “In Sub-Saharan Africa the number of people facing food insecurity stress or crisis has more than doubled since 2019, reaching 420 million people last year,” noted the bishops in a statement. A delegation representing the African Bishops and religious

Image
02-March-2024

MTF Class of 2023 to Premiere Her Dark Past, Grown

By Modupe Gbadeyanka Two feature films will be premiered this weekend exclusively on the Africa Magic Showcase channel 151 and Africa Magic Urban channel 153 by the students of the MultiChoice Talent Factory (MTF). The two pieces of art titled Grown and Her Dark Past are the final projects of the MTF Class of 2023 students, a statement from the organisation said. The MTF is a leading film school in West Africa for young, talented and passionate filmmakers. It was established by the media platform to grow the region’s creative industry. Grown premieres on Africa Magic Showcase at 8.30 pm

Image
02-March-2024

Mandela’s Heirs Lose Power in South Africa

By Alexander Braterskiy South African authorities warn that if the opposition wins the parliamentary elections, the country may change course and leave the informal BRICS economic bloc, which includes Russia. The position of the African National Congress party, which has been in power since the collapse of apartheid, is indeed not the best, as shown by the municipal elections held earlier in the country. The opposition accuses the president of corruption and abuse of power, as well as an inability to cope with the country’s energy crisis. The ANC crisis occurred on the 30th anniversary of the first free elections

Image
02-March-2024

CAA Reaffirms Commitment to Climate Innovation for Sustainable Future

By Modupe Gbadeyanka A leading social enterprise focused on environmental sustainability, Climate Action Africa (CAA), has reaffirmed its commitment to being at the forefront of driving climate innovation for a sustainable future. The organization, which is a key participant at the four-day Omniverse Summit 2024 in Lagos, emphasised the need to integrate environmental sustainability models, technology, and community-driven innovation to address climate change challenges. It promised to foster an inclusive climate action ecosystem through innovation, which it said can be used to identify and scale solutions to address the imminent climate crisis in Nigeria and Africa as a whole, The

Image
02-March-2024

Endosurvivors Foundation Set For Another Endometriosis Awareness

By Adedapo Adesanya EndoSurvivors International Foundation (ESIF), an NGO championing endometriosis awareness in Nigeria, has announced its upcoming events in commemoration of the Global Endometriosis Advocacy Month in March, fondly tagged March4Endo by advocates all over the world.  Endometriosis is a chronic and inflammatory condition that affects approximately 1 in 10 girls and women in Nigeria and on a global scale. This sums up to about 190 million affected girls/women around the world, about the population of Nigeria in 2018.  The World Health Organisation (WHO) recognizes that endometriosis has significant social, public health, and economic implications leading to a decrease

Image
02-March-2024

CSCS, FrieslandCampina Lift NASD OTC Bourse by 0.31%

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange returned to the positive territory after it gained 0.31 per cent on Friday, March 1, thanks to the duo of Central Securities Clearing System (CSCS) Plc and FrieslandCampina Wamco Nigeria Plc. CSCS Plc added 81 Kobo to its value to sell for N19.46 per unit compared with the preceding day’s N18.65 per unit, and FrieslandCampina improved by N1.15 to settle at N71.4o per share, in contrast to Thursday’s closing price of N70.25 per share. However, Aradel Holdings Plc continued its price depreciation yesterday as it shed N6.75 to sell at N2,395.00

Image
02-March-2024

Naira Now N1,548.25 at Official Market, N1,560/$1 at Black Market

By Adedapo Adesanya The Naira sustained its gradual recovery against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Friday, March 1, appreciating by 2.94 per cent or N46.86 to sell at N1,548.25/$1, in contrast to the N1,595.11/$1 it was traded on Thursday. Also, in the spot market, the Nigerian currency improved its value against the Pound Sterling during the trading day by N90.13 to close at N1,956.06/£1 versus the previous day’s N2,046.19/£1 and against the Euro, it gained N76.39 to trade at N1,675.25/€1, in contrast to the N1,751.64/€1 it closed a day earlier. The supply of

Image
02-March-2024

Crude Oil Jumps 2% as Traders Sight Possible OPEC+ Cuts

By Adedapo Adesanya Crude oil appreciated by about 2 per cent on Friday as traders awaited a decision from the Organisation of the Petroleum Exporting Countries and allies (OPEC+) on supply agreements for the second quarter. Yesterday, the price of Brent futures went up by $1.64 or 2 per cent to $83.55 per barrel and the US West Texas Intermediate (WTI) futures rose by $1.71 or 2.19 per cent to $79.97 a barrel. For the week, Brent added around 2.4 per cent while WTI gained more than 4.5 per cent. Analysts noted that the expectation that OPEC+ is going to

Image
02-March-2024

NGX Indices Nosedive by 1.23% as Traders Resume Profit-Taking

By Dipo Olowookere The bears made a quick return to the Nigerian Exchange (NGX) Limited after leaving the stage for the bulls for a day as investors reassessed the impact of the hike in the benchmark interest rate by the Central Bank of Nigeria (CBN) on Tuesday on their investments. On Friday, the key performance indicators of the bourse closed lower by 1.23 per cent as a result of renewed selling pressure, especially in the energy and industrial goods sectors. Business Post reports that at the close of transactions on the first trading session of March 2024, the industrial goods