NASD Exchange Ends Week in Stalemate

Image

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange closed flat on Friday, September 16 as key performance indicators remained unchanged.

Business Post reports that this happened despite the presence of a price gainer and a price loser.

Afriland Properties Plc recorded a 1 kobo gain to close at N1.22 per share compared with the previous day’s N1.21 per share, while NASD Plc lost 1 kobo to end the week at N12.50 per unit in contrast to Thursday’s N12.51 per unit.

But despite these price changes, the market capitalisation of the NASD Exchange retained the previous value of N975.57 billion as the NASD Unlisted Securities Index (NSI) remained unchanged at 741.08 points.

During the trading day, investors traded a total of 10.1 million units of securities in contrast to the 178.8 million units of securities transacted in the preceding session, indicating a fall of 94.4 per cent.

Equally, the value of shares exchanged by the market participants depreciated by 99.5 per cent to N1.6 million from N12.3 million recorded at the previous session.

However, the total number of deals executed went up by 20 per cent as 12 deals were performed at the exchange as against the 10 deals printed at the Thursday session.

AG Mortgage Bank Plc finished the trading day as the most traded stock by volume on a year-to-date basis with the sale of 2.3 billion units worth N1.2 billion, Central Securities Clearing System (CSCS) Plc also retained the second spot with the sale of 687.5 million units valued at N14.3 billion, while Mixta Real Estate Plc was in third place for trading 178.1 million units valued at N313.4 million.

CSCS Plc maintained its position as the most active stock by value on a year-to-date basis with a turnover of 687.5 million units valued at N14.3 billion, VFD Group Plc was in second place with 27.7 million units worth N7.4 billion, while FrieslandCampina WAMCO Nigeria Plc retained the third place with the sale of 14.3 billion units valued at N1.7 billion.

Share
Related Stories
Image
28-February-2024

Nigeria’s Over-the-Counter Securities Market Down by 1.62%

By Dipo Olowookere Selling pressure on a bellwether stock, Aradel Holdings Plc, further sank the NASD over-the-counter (OTC) Securities Exchange by 1.62 per cent on Tuesday. The energy stock, which had maintained an upward posture for some trading session, witnessed profit-taking yesterday like it did a day earlier. During the trading day, its value went down by N129.50 or 5.14 per cent to N2,520.50 per share compared with Monday’s closing price of N2,650.00 per share. Its loss overpowered the gains recorded by the duo of FrieslandCampina Wamco Nigeria Plc and UBN Property Plc. According to data from the bourse, the

Image
27-February-2024

Supply Disruptions Jerk Crude Oil Prices

By Adedapo Adesanya Oil prices increased by more than $1 on Monday amid European diesel demand, constrained by Russian sanctions and shipping disruptions, with the Brent crude futures up by $1.41 or 1.73 per cent to $83.03 per barrel and the US West Texas Intermediate crude futures (WTI) up by $1.48 or 1.93 per cent to $77.97 per barrel. A slump in refining activity in the US and disruptions to global trade have tightened diesel supplies in recent weeks, dampening historically high US diesel exports to Europe this month. US diesel cracks briefly surged to a four-month high of more

More Stories
Image
26-February-2024

The Plateau Multi-Door Courthouse Tori

By Prince Charles Dickson PhD If you have read the book, A History of Alternative Dispute Resolution, the work offers a comprehensive review of the various types of peaceful practices for resolving conflicts. Written by Jerome Barrett—a long-time practitioner, innovator, and leading historian in the field of ADR—and his son Joseph Barrett, this volume traces the evolution of the ADR process and offers an overview of the precursors to ADR, including negotiation, arbitration, and mediation. The authors explore the colourful beginnings of ADR using illustrative examples from prehistoric Shaman through the European Law Merchant. In addition, the book offers the

Image
24-August-2020

Investors Trade 241m Stocks Via EFG Hermes to Become Most Active Broker

By Modupe Gbadeyanka The most active stockbroking company last week was EFG Hermes Nigeria Limited, data from the Nigerian Stock Exchange (NSE) has revealed. The company displaced Chapel Hill Denham, which occupied the same position a week earlier, after transacting 240.5 million stocks in the week, contributing 12.65 per cent to the total trading volume. The brokerage firm was very busy during the week to the extent that the company on the second spot, Meristem Stockbrokers, could only contribute 6.06 per cent to the total turnover after investors traded 115.2 million stocks through it at the stock exchange. CSL Stockbrokers

Image
25-March-2023

BUA Cement, Nigerian Breweries, Others Drive Stock Market’s 0.06% Loss

By Dipo Olowookere The Nigerian Exchange (NGX) Limited recorded a 0.06 per cent loss on Friday as a result of the selling pressure on some blue-chip stocks at the bourse. It was observed that the decline was mainly driven by the poor performances of financial and industrial goods shares during the trading session. Data obtained by Business Post showed that the insurance space lost 1.01 per cent, the industrial goods counter depreciated by 0.66 per cent, the banking sector declined by 0.25 per cent, and the consumer goods category shed 0.21 per cent, while the energy index remained flat. Consequently,

Image
20-December-2019

Naira Nears N364/$ at I&E Despite Drop in FX Turnover

By Adedapo Adesanya  The Nigerian Naira is beginning to come under heavy pressure at the Investors and Exporters (I&E) segment of the foreign exchange (forex) market At the trading session of Thursday, December 19, 2019, the local currency further declined against the greenback despite a significant drop in the demand for Dollar. Data obtained by Business Post from FMDQ, the platform that tracks forex transactions at the window, showed that there was a significant reduction in the market turnover yesterday. Transactions worth $98.43 million were recorded during the session compared with $600.45 million exchanged at the previous session, indicating a

Image
26-April-2023

Israel Adesanya Among Most Instagram Influential MMA Fighters

By Modupe Gbadeyanka The Nigerian-New Zealand professional mixed martial artist, Israel Adesanya, has been ranked among one of the most influential MMA fighters on Instagram, a popular video-sharing platform. In a study conducted by Middle Easy, Israel Adesanya, fondly called Style Bender, was ranked fourth with about 7 million followers and the potential to earn $23,534 per sponsored post. The 33-year-old Nigerian fighter recently reclaimed his middleweight title from long-time bitter rival, Alex Pereira, with a knockout at UFC 287 in Miami, Florida. On top of the list is Conor McGregor, who boasts 46 million followers on the platform and

Image
05-September-2017

5 Interesting Ways To Cut Bank Charges When You Travel Abroad

By Adeniyi Ogunfowoke Banking abroad is more than just using your card at an ATM or using Point of Sale. So, when you travel abroad and you want to perform any transaction, you must know how to avoid paying bank fees, eliminate foreign transaction charges, and get a good exchange rate. If you do not, you will discover that your bank will have a field day deducting fees for banking transactions. In line with this, Jumia Travel, the leading online travel agency shares ways you can reduce bank charges when you travel abroad. Eliminate ATM fees ATM fees can really

Image
01-November-2019

IHS Towers Appoints Bush, Land to Board of Directors

The board of directors of IHS Holding Limited, one of the largest independent owners, operators and developers of shared telecommunications infrastructure in the world and leader in EMEA by tower count, now has two new additions. The new appointees are Mr John Ellis (Jeb) Bush, who is the current President of Jeb Bush & Associates LLC, and Mr Nick Land, a chartered accountant, who retired as Executive Chairman of Ernst & Young LLP in 2006 following 36 years with the firm. Mr Bush joins the board of IHS as a Non-Executive Independent Director. He was the Governor of Florida between

Image
14-November-2018

Futures Pointing to Initial Strength on Wall Street

By Investors Hub The major U.S. index futures are pointing to a higher opening on Wednesday following the lackluster performance seen in the previous session. The upward momentum on Wall Street comes following the release of a report from the Labor Department showing consumer prices increased in line with economist estimates in the month of October. The relatively tame inflation data may offset some recent concerns about the Federal Reserve raising interest rates faster than currently anticipated. Trading activity may remain somewhat subdued, however, as lingering concerns about the global economic outlook may keep some traders on the sidelines. Remarks

Ad
Ad
Recent Stories
Image
28-February-2024

Dangote Cement Wins Environmental Sustainability Award

By Aduragbemi Omiyale NatureNews has announced Dangote Cement Plc as the winner of the 2023 NatureNews Environmental Sustainability Award at its 3rd anniversary themed Climate Change and Energy Transition in Nigeria. At the Anniversary Lecture and Presentation of the Hero of Environmental Actions for Development (HEAD) held on Tuesday at the Shehu Musa Yar’Adua Centre, Abuja, the news platform said Dangote Cement was nominated for the category following a thorough screening by eminent professionals. The Publisher and Editor-in-Chief of NatureNews, Mr Aliyu Akoshile, disclosed that during the screening, it was discovered that the cement maker had deployed cutting-edge technology to

Image
28-February-2024

Nigeria’s Stock Market Stands Still to Honour Ogunbanjo’s Legacy

By Aduragbemi Omiyale The stock market in Nigeria stood still for the late former chairman of the Nigerian Exchange (NGX) Group Plc, Mr Abimbola Ogunbanjo, on Tuesday, February 27, 2024. The day was set aside to pay homage to the enduring legacy of the esteemed luminary, who died in a helicopter crash in the United States a few weeks ago along with the group chief executive of Access Holdings, Mr Herbert Wigwe, his wife and son. The NGX Group held an Afternoon of Tributes and Closing Gong Ceremony yesterday for him in collaboration with the Coronation Group. In a poignant

Image
28-February-2024

Fans Anticipate ‘Return of Maleeka (Atupa)’ by Mobolaji Samuel

By Modupe Gbadeyanka Some movie lovers are already calling on a movie producer in Nigeria, Ms Mobolaji Samuel, to release the sequel to her captivating film, Maleeka, Return of Meleeka (Atupa). The quest to see the second part of the flick is due to the exploits of the Nollywood filmmaker in the first part. However, she has called for calm, assuring her fans that the release date of her latest work of art would be announced very soon. Speaking recently on the Return of Maleeka (Atupa), the charming movie maker described the film as a story of faith and resilience,

Image
28-February-2024

FG Selects Learning Community Managers for 3MTT Initiative

By Modupe Gbadeyanka The federal government has selected Learning Community Managers for the 3MTT Initiative for all 36 states of the federation and the Federal Capital Territory (FCT). The managers were picked for the programme by the Federal Ministry of Communications, Innovation & Digital Economy, which is handling the initiative. Recall that the government secured N1 billion in partnership with IHS Nigeria to support the 3MTT Learning Community. The selection of Learning Community Managers marks a significant milestone in the government’s efforts to empower Nigeria’s tech talents. These individuals will play a crucial role in managing and assisting participants in

Image
28-February-2024

Renowned Embryologist Dr Marta Jansa Perez Visits Bridge Clinic Nigeria

By Modupe Gbadeyanka A renowned embryologist, Dr Marta Jansa Perez, has visited the Bridge Clinic Nigeria in Lagos, reinforcing its commitment to excellence in reproductive healthcare. Ms Perez is the Director of Embryology at Bridge Clinic London. Her visit to the Nigerian affiliate of the foremost healthcare organisation is a testament to the partnership between the two clinics, opening new avenues for the exchange of expertise and resources. The health practitioner arrived at Bridge Clinic Nigeria on Monday, February 19, 2024. Her week-long visit was meticulously structured around training, process and quality improvement, research and development, and guidance on best

Image
28-February-2024

Zero Routine Gas Flares and Delta Communities

By Jerome-Mario Utomi It is common knowledge that in pursuit of meeting the targets of 20 per cent (unconditional) and 47 per cent (conditional) greenhouse gas emission reduction as contained in the Nationally Determined Contribution under the Paris Accord reportedly signed by the President Bola Tinubu administration, the Nigerian National Petroleum Company Limited/TotalEnergies joint venture recently achieved zero routine gas flare in all its assets. While it is obvious that “the significance of this achievement is that the last routine flare volume of about 12MMscf/d (12 million standard cubic feet per day) of gas has now been eliminated giving rise

Image
28-February-2024

70 Active Stanbic IBTC Bank Customers Grab N7m in January Draws

By Aduragbemi Omiyale The sum of N7 million has been won by 70 active customers of Stanbic IBTC Bank in its ongoing Reward4Saving Promo. The money was won in the January 2024 draw, bringing the total number of beneficiaries since the inception of the promo in 2021 to 1,424 valued at N234 million, a statement from the company said. The Reward4Saving Promo was created to foster disciplined saving habits among Nigerians, offering them rewards for achieving specified savings targets. In the January draw, 10 winners were selected from each of the seven business regions operated by the bank in Nigeria,

Image
28-February-2024

Firms in Nigeria to Pay Annual Levy for Hiring Foreigners

By Aduragbemi Omiyale A new tax known as Expatriate Employment Levy (EEL) has been introduced by the federal government and it is to be paid by companies, which hire foreigners to work in Nigeria. The scheme was launched on Tuesday in Abuja by President Bola Tinubu and it is to close wage gaps between expatriates and Nigerian workers. The government explained that the policy aims to find a balance between leveraging foreign expertise and fostering local talent in Nigeria’s job market through the EEL, emphasising that it is not to discourage foreign investments. It was stressed that the level would

Image
28-February-2024

Senate Advocates Introduction of Food Stamps in Nigeria

By Adedapo Adesanya The Senate has urged the federal government to introduce the Nigerian version of the “food stamps programme” as an interim intervention to cushion the effects of food shortages in the country. This followed the adoption of a motion on the Introduction of Food Stamps in Nigeria as an Interim Measure to Address Imminent Food Insecurity in the country, by Mr Ali Ndume, the Senate Chief Whip at plenary on Tuesday. Presenting the motion, Mr Ndume said that in other countries, like the United States, food stamps were government-issued coupons that had been in use since 1939. “This is

Image
28-February-2024

Trucks Transit Parks Reflects Industry Impact, Future Opportunities

By Modupe Gbadeyanka A leading technology company specializing in mobility solutions, Trucks Transit Parks (TTP) Limited, is marking its third year of operations. As part of this, the firm is reflecting on the significant impact it has made in the maritime and logistics industry. TTP, since its inception to revolutionize the maritime and logistics sector in Nigeria through truck mobility solutions powered by technology, has emerged as a key player in driving port terminal efficiency, reducing traffic congestion, and creating new business opportunities within the Apapa port economic zone. “Our third anniversary of operations provides us an opportunity to reflect